Inlet Private Wealth LLC Buys 6,000 Shares of HP Inc. (NYSE:HPQ)

Inlet Private Wealth LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 11.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 60,400 shares of the computer maker’s stock after acquiring an additional 6,000 shares during the quarter. Inlet Private Wealth LLC’s holdings in HP were worth $1,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC raised its stake in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the last quarter. KBC Group NV lifted its holdings in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after buying an additional 2,105,104 shares during the period. Pacer Advisors Inc. grew its holdings in HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares during the period. Finally, Bridgewater Associates LP raised its position in shares of HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after acquiring an additional 1,270,642 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HP

In other HP news, insider Kristen M. Ludgate sold 74,356 shares of the 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 in the company, valued at $1,933,898.67. This represents a 56.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the business’s 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 transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ stock opened at $32.51 on Friday. The firm’s 50-day simple moving average is $33.92 and its two-hundred day simple moving average is $35.15. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last issued its 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 firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.28%.

Analyst Upgrades and Downgrades

Several research firms recently commented on HPQ. Barclays raised their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup lowered their price objective on shares of 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 cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. JPMorgan Chase & Co. lowered their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.23.

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.