Everence Capital Management Inc. Trims Stock Position in HP Inc. (NYSE:HPQ)

Everence Capital Management Inc. trimmed its stake in HP Inc. (NYSE:HPQ) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,940 shares of the computer maker’s stock after selling 10,760 shares during the period. Everence Capital Management Inc.’s holdings in HP were worth $977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LVW Advisors LLC raised its stake in HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after acquiring an additional 278 shares during the last quarter. Castleview Partners LLC grew its position in HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after buying an additional 289 shares during the last quarter. Versant Capital Management Inc increased its stake in HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after buying an additional 297 shares during the period. King Luther Capital Management Corp raised its position in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the last quarter. Finally, Arvest Investments Inc. lifted its stake in shares of HP by 0.9% in the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after acquiring an additional 310 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of HP 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 transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. This represents a 56.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HPQ. Barclays boosted their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. TD Cowen lifted their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, HP presently has an average rating of “Hold” and an average price target of $36.23.

HP Trading Up 2.1 %

NYSE:HPQ opened at $33.14 on Friday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The company’s 50-day moving average is $35.50 and its two-hundred day moving average is $35.53. The firm has a market cap of $31.08 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter last year, the firm earned $0.90 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. HP’s dividend payout ratio (DPR) is currently 40.93%.

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.