HM Payson & Co. Has $10.68 Million Holdings in HP Inc. (NYSE:HPQ)

HM Payson & Co. decreased its stake in HP Inc. (NYSE:HPQ) by 16.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 327,261 shares of the computer maker’s stock after selling 63,272 shares during the period. HM Payson & Co.’s holdings in HP were worth $10,679,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in shares of HP by 21.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 213,558 shares of the computer maker’s stock worth $7,660,000 after purchasing an additional 37,669 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in HP by 15.2% during the third quarter. Harbor Capital Advisors Inc. now owns 13,052 shares of the computer maker’s stock worth $468,000 after buying an additional 1,724 shares during the last quarter. Van ECK Associates Corp grew its stake in HP by 6.0% during the third quarter. Van ECK Associates Corp now owns 37,550 shares of the computer maker’s stock worth $1,346,000 after buying an additional 2,139 shares during the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of HP by 4.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after buying an additional 316 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of HP in the third quarter valued at approximately $247,000. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

Shares of NYSE HPQ opened at $30.56 on Friday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The firm has a market capitalization of $28.80 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.96 and a beta of 1.09. The company’s 50 day simple moving average is $32.76 and its 200 day simple moving average is $34.65.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.79%. HP’s payout ratio is currently 41.37%.

Insider Activity

In other news, insider Alex Cho sold 40,287 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. The trade was a 38.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,737 shares of company stock valued at $9,316,641 in the last ninety days. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Sanford C. Bernstein increased their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Barclays lifted their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Citigroup dropped their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, HP has a consensus rating of “Hold” and an average target price of $36.14.

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.