Cypress Capital Group Cuts Holdings in HP Inc. (NYSE:HPQ)

Cypress Capital Group decreased its position in HP Inc. (NYSE:HPQ) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,479 shares of the computer maker’s stock after selling 508 shares during the period. Cypress Capital Group’s holdings in HP were worth $897,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in HP in the third quarter valued at $25,000. Synergy Asset Management LLC acquired a new stake in shares of HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP in the fourth quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of HP in the third quarter valued at about $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of HP in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several research analyst reports. Sanford C. Bernstein lifted their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley dropped their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.14.

HP Price Performance

NYSE:HPQ opened at $29.60 on Thursday. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 10.53, a PEG ratio of 2.96 and a beta of 1.05. The company’s 50-day moving average is $32.88 and its two-hundred day moving average is $34.72. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.37%.

Insider Activity

In other news, insider Kristen M. Ludgate sold 74,356 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,933,898.67. This represents a 56.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,737 shares of company stock valued at $9,316,641. Company insiders own 0.41% of the company’s stock.

HP 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.