HP Inc. (NYSE:HPQ) Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC lowered its holdings in HP Inc. (NYSE:HPQ) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,595 shares of the computer maker’s stock after selling 756 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in HP were worth $1,879,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HPQ. State Street Corp lifted its holdings in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC raised its stake in shares of HP by 11.1% during the 3rd 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 raised its stake in shares of HP by 145.1% during the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after buying an additional 2,105,104 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of 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 buying an additional 1,455,138 shares during the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of HP by 2,649.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after buying an additional 1,270,642 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HPQ. Barclays lifted their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Sanford C. Bernstein lifted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. HSBC cut HP from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, TD Cowen lifted their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, HP currently has a consensus rating of “Hold” and an average price target of $36.23.

HP Price Performance

HPQ opened at $32.83 on Tuesday. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The business has a 50-day moving average of $33.49 and a two-hundred day moving average of $34.92. 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 results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company 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 firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 EPS. Equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 41.28%.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares in the company, 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 quarter, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is currently owned by company insiders.

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.