Montgomery Investment Management Inc. Sells 700 Shares of HP Inc. (NYSE:HPQ)

Montgomery Investment Management Inc. decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 1.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 61,770 shares of the computer maker’s stock after selling 700 shares during the period. Montgomery Investment Management Inc.’s holdings in HP were worth $2,016,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HPQ. Greenwood Capital Associates LLC boosted its holdings in shares of HP by 2.4% in the fourth quarter. Greenwood Capital Associates LLC now owns 35,675 shares of the computer maker’s stock valued at $1,164,000 after purchasing an additional 843 shares during the period. F&V Capital Management LLC boosted its holdings in shares of HP by 1.4% in the fourth quarter. F&V Capital Management LLC now owns 328,884 shares of the computer maker’s stock valued at $10,731,000 after purchasing an additional 4,545 shares during the period. One Wealth Advisors LLC boosted its holdings in shares of HP by 13.1% in the fourth quarter. One Wealth Advisors LLC now owns 22,393 shares of the computer maker’s stock valued at $731,000 after purchasing an additional 2,598 shares during the period. CENTRAL TRUST Co boosted its holdings in shares of HP by 2.2% in the fourth quarter. CENTRAL TRUST Co now owns 116,885 shares of the computer maker’s stock valued at $3,814,000 after purchasing an additional 2,555 shares during the period. Finally, Greenleaf Trust boosted its holdings in shares of HP by 1.7% in the fourth quarter. Greenleaf Trust now owns 32,208 shares of the computer maker’s stock valued at $1,051,000 after purchasing an additional 548 shares during the period. Institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have 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. Barclays upped 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. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.23.

Insiders Place Their Bets

In other news, 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 sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,035 shares of company stock valued at $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Price Performance

NYSE HPQ opened at $32.02 on Wednesday. The stock’s fifty day moving average price is $33.78 and its 200 day moving average price is $35.07. The company has a market cap of $30.03 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.77 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.61%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

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.