HP Inc. (NYSE:HPQ) Shares Sold by Abundance Wealth Counselors

Abundance Wealth Counselors lessened its holdings in HP Inc. (NYSE:HPQ) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 34,270 shares of the computer maker’s stock after selling 531 shares during the period. Abundance Wealth Counselors’ holdings in HP were worth $1,118,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in HP in the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC purchased a new position in shares of HP in the fourth quarter worth $26,000. Wolff Wiese Magana LLC lifted its stake in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of HP during the third quarter valued at $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in HP in the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were 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 of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction dated 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 sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Sanford C. Bernstein raised their price target 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. decreased their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Barclays raised 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, HP has an average rating of “Hold” and an average target price of $36.23.

HP Price Performance

HP stock opened at $32.51 on Friday. The stock has a market capitalization of $30.48 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The business has a 50 day simple moving average of $33.92 and a 200-day simple moving average of $35.15. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

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

HP Dividend Announcement

The company 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. 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 3.56%. HP’s payout ratio is currently 41.28%.

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.