Geneos Wealth Management Inc. Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Geneos Wealth Management Inc. trimmed its holdings in shares of HP Inc. (NYSE:HPQ) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,280 shares of the computer maker’s stock after selling 700 shares during the period. Geneos Wealth Management Inc.’s holdings in HP were worth $69,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC raised its stake in shares of HP by 138.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 27,532 shares of the computer maker’s stock valued at $828,000 after acquiring an additional 15,982 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of HP during the fourth quarter valued at about $28,000. HBK Sorce Advisory LLC raised its stake in shares of HP by 5.6% during the fourth quarter. HBK Sorce Advisory LLC now owns 12,094 shares of the computer maker’s stock valued at $364,000 after acquiring an additional 641 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of HP during the fourth quarter valued at about $1,471,000. Finally, Mainstay Capital Management LLC ADV raised its stake in shares of HP by 20.4% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 56,683 shares of the computer maker’s stock valued at $1,706,000 after acquiring an additional 9,622 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Stephanie Liebman sold 8,708 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

HPQ stock opened at $27.79 on Wednesday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The company has a market cap of $27.25 billion, a P/E ratio of 8.12, a PEG ratio of 2.39 and a beta of 1.05. The firm has a 50-day moving average of $29.37 and a 200 day moving average of $28.78.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $13.19 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. On average, equities research analysts expect that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 32.16%.

Analyst Ratings Changes

Several brokerages have recently commented on HPQ. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Barclays upped their price objective on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Finally, HSBC raised shares of HP from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. 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. Based on data from MarketBeat.com, HP presently has a consensus rating of “Moderate Buy” and an average price target of $33.11.

About HP

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.