Angeles Wealth Management LLC Raises Holdings in HP Inc. (NYSE:HPQ)

Angeles Wealth Management LLC increased its position in HP Inc. (NYSE:HPQ) by 54.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,268 shares of the computer maker’s stock after acquiring an additional 3,637 shares during the quarter. Angeles Wealth Management LLC’s holdings in HP were worth $335,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stephens Inc. AR boosted its position in HP by 1,314.6% during the fourth quarter. Stephens Inc. AR now owns 226,255 shares of the computer maker’s stock worth $7,383,000 after purchasing an additional 210,261 shares during the period. Empirical Finance LLC boosted its holdings in HP by 27.7% in the 4th quarter. Empirical Finance LLC now owns 68,057 shares of the computer maker’s stock worth $2,221,000 after buying an additional 14,778 shares during the period. Empowered Funds LLC grew its stake in HP by 158.9% in the 4th quarter. Empowered Funds LLC now owns 355,040 shares of the computer maker’s stock valued at $11,585,000 after buying an additional 217,910 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in HP by 2.4% during the 4th quarter. Apollon Wealth Management LLC now owns 21,177 shares of the computer maker’s stock valued at $691,000 after acquiring an additional 501 shares during the period. Finally, Byrne Asset Management LLC purchased a new stake in shares of HP during the fourth quarter worth $250,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of analyst reports. Barclays boosted their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup decreased their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Sanford C. Bernstein raised their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One research 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, the stock presently has an average rating of “Hold” and an average target price of $36.23.

HP Stock Performance

NYSE HPQ opened at $32.83 on Tuesday. The company has a market capitalization of $30.79 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The company has a fifty day moving average of $33.49 and a 200-day moving average of $34.92.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.28%.

Insider Transactions at HP

In other news, insider Alex Cho sold 10,298 shares of the business’s 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now 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 ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is currently owned by insiders.

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.