44 Wealth Management LLC Trims Position in HP Inc. (NYSE:HPQ)

44 Wealth Management LLC lowered its holdings in HP Inc. (NYSE:HPQ) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,171 shares of the computer maker’s stock after selling 4,706 shares during the period. 44 Wealth Management LLC’s holdings in HP were worth $1,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC purchased a new stake in HP in the 3rd quarter valued at about $25,000. Synergy Asset Management LLC purchased a new stake in shares of HP during the 4th quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of HP during the 4th quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of HP during the 3rd quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of HP during the 3rd quarter worth about $44,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock valued at $9,670,068 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Citigroup decreased their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Wells Fargo & Company raised their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.68.

HP Trading Down 0.3 %

HPQ stock opened at $34.63 on Friday. The business’s 50 day moving average is $33.10 and its 200-day moving average is $34.83. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a market cap of $32.48 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the company earned $0.90 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 41.28%.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.