Wealth Enhancement Advisory Services LLC Buys 530 Shares of HP Inc. (NYSE:HPQ)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 0.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 234,499 shares of the computer maker’s stock after acquiring an additional 530 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in HP were worth $8,412,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC bought a new stake in HP during the second quarter worth about $88,000. Oppenheimer & Co. Inc. boosted its stake in HP by 69.3% in the second quarter. Oppenheimer & Co. Inc. now owns 45,694 shares of the computer maker’s stock worth $1,600,000 after buying an additional 18,699 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in HP by 23.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 884,500 shares of the computer maker’s stock valued at $30,815,000 after acquiring an additional 167,901 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in shares of HP by 32.6% during the second quarter. Meeder Advisory Services Inc. now owns 14,969 shares of the computer maker’s stock worth $524,000 after acquiring an additional 3,679 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of HP by 23.0% in the 2nd quarter. Federated Hermes Inc. now owns 453,375 shares of the computer maker’s stock worth $15,877,000 after acquiring an additional 84,754 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

HPQ has been the topic of a number of analyst reports. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen raised their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein boosted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $36.23.

Insider Activity

In related news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This trade represents a 60.56 % 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 40,287 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

HP Stock Performance

HPQ stock opened at $33.27 on Monday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company has a market capitalization of $31.20 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05. The business’s 50 day moving average price is $35.20 and its two-hundred day moving average price is $35.43.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is an increase from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. HP’s dividend payout ratio (DPR) is currently 40.93%.

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.