Harbor Capital Advisors Inc. increased its holdings in HP Inc. (NYSE:HPQ – Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,534 shares of the computer maker’s stock after purchasing an additional 482 shares during the period. Harbor Capital Advisors Inc.’s holdings in HP were worth $442,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new stake in HP during the 3rd quarter valued at $25,000. Wolff Wiese Magana LLC raised its stake in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares during the period. ORG Wealth Partners LLC bought a new stake in shares of HP in the 3rd quarter worth about $37,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP during the 3rd quarter worth about $40,000. Finally, DecisionPoint Financial LLC bought a new position in HP during the 2nd quarter valued at about $43,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.
Insider Buying and Selling at HP
In other HP news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 over the last quarter. Insiders own 0.41% of the company’s stock.
HP Stock Performance
HP (NYSE:HPQ – Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. Equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.
HP Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.54%. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is presently 40.93%.
Analyst Ratings Changes
HPQ has been the subject of several recent analyst reports. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. Barclays boosted their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, TD Cowen lifted their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $36.23.
Get Our Latest Stock Report on HP
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.
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