HP Inc. (NYSE:HPQ) Stake Raised by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. grew its holdings in shares of HP Inc. (NYSE:HPQGet Rating) by 20.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,674 shares of the computer maker’s stock after buying an additional 3,203 shares during the period. Avantax Advisory Services Inc.’s holdings in HP were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wakefield Asset Management LLLP raised its holdings in HP by 2.8% during the second quarter. Wakefield Asset Management LLLP now owns 11,089 shares of the computer maker’s stock worth $364,000 after purchasing an additional 304 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its holdings in HP by 2.9% during the second quarter. Vestmark Advisory Solutions Inc. now owns 11,330 shares of the computer maker’s stock worth $371,000 after purchasing an additional 320 shares in the last quarter. Barnett & Company Inc. raised its holdings in HP by 0.9% during the second quarter. Barnett & Company Inc. now owns 37,150 shares of the computer maker’s stock worth $1,218,000 after purchasing an additional 325 shares in the last quarter. Money Concepts Capital Corp raised its holdings in HP by 7.1% during the second quarter. Money Concepts Capital Corp now owns 5,033 shares of the computer maker’s stock worth $160,000 after purchasing an additional 335 shares in the last quarter. Finally, Central Bank & Trust Co. raised its holdings in HP by 50.4% during the second quarter. Central Bank & Trust Co. now owns 1,026 shares of the computer maker’s stock worth $34,000 after purchasing an additional 344 shares in the last quarter. Institutional investors own 79.68% of the company’s stock.

HP Stock Performance

NYSE HPQ opened at $28.60 on Tuesday. HP Inc. has a twelve month low of $24.08 and a twelve month high of $41.47. The stock has a market cap of $28.09 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 3.06 and a beta of 1.02. The firm’s 50 day moving average price is $28.20 and its two-hundred day moving average price is $28.97.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings results on Tuesday, November 22nd. The computer maker reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. HP had a net margin of 5.09% and a negative return on equity of 181.32%. The business had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $14.68 billion. During the same period in the previous year, the company posted $0.94 EPS. HP’s revenue was down 11.2% on a year-over-year basis. On average, research analysts forecast that HP Inc. will post 3.33 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, March 7th. HP’s dividend payout ratio is currently 34.88%.

Insider Activity

In other news, CFO Marie Myers sold 7,380 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $27.00, for a total transaction of $199,260.00. Following the transaction, the chief financial officer now directly owns 27,316 shares in the company, valued at approximately $737,532. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Marie Myers sold 7,380 shares of HP stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $27.00, for a total value of $199,260.00. Following the completion of the sale, the chief financial officer now owns 27,316 shares of the company’s stock, valued at approximately $737,532. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tuan Tran sold 108,918 shares of HP stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $29.99, for a total transaction of $3,266,450.82. Following the completion of the sale, the insider now directly owns 61,465 shares of the company’s stock, valued at approximately $1,843,335.35. The disclosure for this sale can be found here. Insiders have sold a total of 248,322 shares of company stock worth $7,157,022 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on HPQ shares. Cfra set a $31.00 target price on HP in a report on Thursday, November 24th. StockNews.com started coverage on shares of HP in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays decreased their price target on shares of HP from $27.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 23rd. Sanford C. Bernstein decreased their price target on shares of HP from $30.00 to $29.00 in a research report on Monday, January 9th. Finally, Bank of America decreased their price target on shares of HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a research report on Friday, November 18th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $29.60.

About HP

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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