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

Tacita Capital Inc cut its stake in shares of HP Inc. (NYSE:HPQ) by 47.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,065 shares of the computer maker’s stock after selling 950 shares during the period. Tacita Capital Inc’s holdings in HP were worth $35,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. King Luther Capital Management Corp raised its stake 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 valued at $346,000 after acquiring an additional 303 shares during the last quarter. Arvest Investments Inc. raised its stake in shares of HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after buying an additional 310 shares in the last quarter. Auxano Advisors LLC raised its stake in shares of HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in shares of HP by 4.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after buying an additional 316 shares in the last quarter. Finally, Wedmont Private Capital raised its stake in shares of HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after buying an additional 316 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the sale, the insider now owns 64,676 shares in the company, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,737 shares of company stock worth $9,316,641. 0.41% of the stock is owned by insiders.

HP Stock Performance

Shares of NYSE:HPQ opened at $30.03 on Tuesday. The business’s fifty day moving average price is $33.04 and its two-hundred day moving average price is $34.80. The stock has a market cap of $28.32 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a one year low of $27.42 and a one year high of $39.79.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $13.50 billion for 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%. As a group, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HPQ shares. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. TD Cowen cut their target price on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday. Morgan Stanley cut their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday. HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, HP presently has a consensus rating of “Hold” and a consensus target price of $36.59.

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.