Cypress Capital LLC Reduces Holdings in HP Inc. (NYSE:HPQ)

Cypress Capital LLC decreased its position in shares of HP Inc. (NYSE:HPQ) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,905 shares of the computer maker’s stock after selling 2,043 shares during the period. Cypress Capital LLC’s holdings in HP were worth $1,106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in HP during the 3rd quarter worth $25,000. Synergy Asset Management LLC acquired a new position in HP during the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in HP during the 4th quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in HP during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Barclays raised their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.68.

HP Stock Performance

Shares of HPQ stock opened at $34.63 on Friday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock has a market cap of $32.48 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The business’s fifty day moving average is $33.10 and its 200-day moving average is $34.83.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period last year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.28%.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

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.