Larson Financial Group LLC Trims Stake in HP Inc. (NYSE:HPQ)

Larson Financial Group LLC lowered its holdings in HP Inc. (NYSE:HPQ) by 39.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,742 shares of the computer maker’s stock after selling 4,313 shares during the quarter. Larson Financial Group LLC’s holdings in HP were worth $220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of HP in the 4th quarter valued at $2,121,000. PNC Financial Services Group Inc. raised its holdings in shares of HP by 0.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 413,617 shares of the computer maker’s stock valued at $13,496,000 after buying an additional 1,245 shares during the period. Andra AP fonden raised its holdings in shares of HP by 10.4% in the 4th quarter. Andra AP fonden now owns 1,534,700 shares of the computer maker’s stock valued at $50,077,000 after buying an additional 145,100 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of HP in the 4th quarter valued at $2,325,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of HP by 14.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,614 shares of the computer maker’s stock valued at $216,000 after buying an additional 851 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Down 4.4 %

Shares of NYSE HPQ opened at $28.66 on Wednesday. The stock has a market cap of $27.01 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The business has a 50-day moving average price of $32.63 and a 200 day moving average price of $34.56.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Upgrades and Downgrades

HPQ has been the topic of several recent research reports. TD Cowen cut their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Citigroup cut their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Loop Capital cut their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Finally, Sanford C. Bernstein upped their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.14.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $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. 0.38% of the stock is owned by company insiders.

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.