Sovran Advisors LLC Makes New $993,000 Investment in HP Inc. (NYSE:HPQ)

Sovran Advisors LLC purchased a new stake in HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,397 shares of the computer maker’s stock, valued at approximately $993,000.

A number of other large investors have also made changes to their positions in HPQ. Ashton Thomas Securities LLC bought a new position in HP during the third quarter worth about $25,000. Synergy Asset Management LLC acquired a new stake in shares of HP during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP during the 4th quarter valued at about $31,000. Wolff Wiese Magana LLC grew its position in shares of HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in HP during the 3rd quarter worth approximately $37,000. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In other HP news, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % 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 in the last ninety days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of research reports. Citigroup cut their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Barclays increased their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein increased their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.23.

HP Stock Performance

HPQ opened at $33.14 on Wednesday. The business’s 50-day simple moving average is $33.42 and its 200 day simple moving average is $34.90. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a market capitalization of $31.07 billion, a PE ratio of 11.79, a PEG ratio of 2.78 and a beta of 1.05.

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

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.28%.

HP 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.