HP Inc. (NYSE:HPQ) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management reduced its position in HP Inc. (NYSE:HPQ) by 6.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,064 shares of the computer maker’s stock after selling 6,770 shares during the quarter. Meritage Portfolio Management’s holdings in HP were worth $3,330,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HPQ. Marshall Wace LLP bought a new position in shares of HP during the second quarter valued at approximately $269,000. Cetera Investment Advisers boosted its position in HP by 14.5% during the 2nd quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock valued at $4,391,000 after purchasing an additional 15,905 shares during the period. Czech National Bank grew its stake in HP by 21.2% during the 3rd quarter. Czech National Bank now owns 199,343 shares of the computer maker’s stock worth $7,150,000 after buying an additional 34,881 shares during the last quarter. GAMMA Investing LLC increased its position in HP by 22.3% in the third quarter. GAMMA Investing LLC now owns 12,624 shares of the computer maker’s stock worth $453,000 after buying an additional 2,301 shares during the period. Finally, Mather Group LLC. lifted its stake in HP by 6.1% in the third quarter. Mather Group LLC. now owns 7,353 shares of the computer maker’s stock valued at $264,000 after buying an additional 421 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 in the last three months. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Up 1.7 %

NYSE:HPQ opened at $32.55 on Thursday. The business’s 50-day moving average price is $33.64 and its 200 day moving average price is $35.04. 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 $30.53 billion, a P/E ratio of 11.58, a PEG ratio of 2.77 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given 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 dividend payout ratio (DPR) is presently 40.93%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HPQ shares. Barclays increased their price objective on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Citigroup decreased their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.23.

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.