Brookstone Capital Management Raises Stock Position in HP Inc. (NYSE:HPQ)

Brookstone Capital Management boosted its position in shares of HP Inc. (NYSE:HPQFree Report) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,159 shares of the computer maker’s stock after buying an additional 2,456 shares during the quarter. Brookstone Capital Management’s holdings in HP were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HPQ. Certified Advisory Corp acquired a new stake in shares of HP in the first quarter valued at about $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of HP in the third quarter valued at about $25,000. VitalStone Financial LLC acquired a new stake in shares of HP in the first quarter valued at about $38,000. Covestor Ltd grew its position in shares of HP by 84.5% in the second quarter. Covestor Ltd now owns 1,096 shares of the computer maker’s stock valued at $33,000 after purchasing an additional 502 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of HP in the third quarter valued at about $32,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

HP stock opened at $29.88 on Tuesday. The company’s 50 day simple moving average is $29.25 and its 200-day simple moving average is $28.53. The company has a market capitalization of $29.30 billion, a price-to-earnings ratio of 8.74, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Equities analysts expect that HP Inc. will post 3.41 earnings per share for the current year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be issued a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.69%. The ex-dividend date is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 32.16%.

Insiders Place Their Bets

In other HP news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders sold 154,723 shares of company stock worth $4,609,787 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several research reports. Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $35.00 in a research note on Tuesday, December 12th. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Barclays raised their price target on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. HSBC raised shares of HP from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. Finally, Evercore ISI raised shares of HP from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $33.00 to $40.00 in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, HP presently has an average rating of “Moderate Buy” and an average target price of $33.11.

View Our Latest Report on HPQ

About HP

(Free Report)

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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