EP Wealth Advisors LLC Sells 2,709 Shares of HP Inc. (NYSE:HPQ)

EP Wealth Advisors LLC decreased its position in HP Inc. (NYSE:HPQ – Get Rating) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,053 shares of the computer maker’s stock after selling 2,709 shares during the quarter. EP Wealth Advisors LLC’s holdings in HP were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HPQ. New England Asset Management Inc. lifted its position in HP by 11,092.9% in the 2nd quarter. New England Asset Management Inc. now owns 16,484,459 shares of the computer maker’s stock worth $540,361,000 after buying an additional 16,337,183 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in HP in the 3rd quarter worth approximately $46,671,000. Pacer Advisors Inc. lifted its position in HP by 41.7% in the third quarter. Pacer Advisors Inc. now owns 4,865,955 shares of the computer maker’s stock valued at $121,260,000 after purchasing an additional 1,431,079 shares during the last quarter. First Republic Investment Management Inc. lifted its position in HP by 485.6% in the third quarter. First Republic Investment Management Inc. now owns 1,381,492 shares of the computer maker’s stock valued at $34,427,000 after purchasing an additional 1,145,593 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in HP by 51.5% in the third quarter. Victory Capital Management Inc. now owns 3,348,120 shares of the computer maker’s stock valued at $83,435,000 after purchasing an additional 1,138,208 shares during the last quarter. Institutional investors own 79.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on HPQ shares. Cfra set a $31.00 price objective on HP in a research report on Thursday, November 24th. Bank of America lowered their price objective on HP from $27.00 to $26.00 in a research report on Wednesday, March 1st. TheStreet downgraded HP from a “b-” rating to a “c+” rating in a research report on Tuesday, February 28th. Credit Suisse Group cut HP from an “outperform” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Friday, November 18th. Finally, Sanford C. Bernstein reduced their target price on HP from $30.00 to $29.00 in a research note on Monday, January 9th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and an average price target of $29.40.

HP Stock Down 1.0 %

Shares of HPQ stock opened at $28.04 on Friday. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 3.09 and a beta of 1.01. The business’s fifty day moving average is $28.92 and its 200 day moving average is $27.98. HP Inc. has a twelve month low of $24.08 and a twelve month high of $41.47.

HP (NYSE:HPQ – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.17 billion. HP had a negative return on equity of 141.20% and a net margin of 4.36%. The firm’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Equities research analysts expect that HP Inc. will post 3.29 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be issued a $0.2625 dividend. This represents a $1.05 annualized dividend and a yield of 3.74%. The ex-dividend date is Tuesday, March 7th. HP’s dividend payout ratio (DPR) is 41.83%.

Insiders Place Their Bets

In other HP news, CFO Marie Myers sold 7,380 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $29.87, for a total value of $220,440.60. Following the sale, the chief financial officer now directly owns 22,648 shares of the company’s stock, valued at $676,495.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider David P. Mcquarrie sold 20,609 shares of the company’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $26.64, for a total transaction of $549,023.76. Following the transaction, the insider now directly owns 4,551 shares of the company’s stock, valued at $121,238.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total value of $220,440.60. Following the transaction, the chief financial officer now directly owns 22,648 shares in the company, valued at $676,495.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,749 shares of company stock valued at $2,105,460. 0.32% of the stock is currently owned by corporate insiders.

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.