Strategic Financial Concepts LLC Takes Position in HP Inc. (NYSE:HPQ)

Strategic Financial Concepts LLC bought a new position in HP Inc. (NYSE:HPQ) during the fourth quarter, HoldingsChannel reports. The firm bought 19,571 shares of the computer maker’s stock, valued at approximately $639,000.

Several other hedge funds have also bought and sold shares of HPQ. Ashton Thomas Securities LLC bought a new position in shares of HP in the third quarter valued at $25,000. Synergy Asset Management LLC acquired a new stake in shares of HP in the 4th quarter worth about $26,000. Wolff Wiese Magana LLC lifted its position in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in HP during the 3rd quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of HP in the third quarter worth approximately $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 10,298 shares of the firm’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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % 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. Company insiders own 0.41% of the company’s stock.

HP Trading Up 1.0 %

HP stock opened at $33.14 on Wednesday. The firm has a market capitalization of $31.07 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 2.78 and a beta of 1.05. The firm has a 50 day simple moving average of $33.42 and a 200 day simple moving average of $34.90. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last issued 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. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. HSBC cut HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Sanford C. Bernstein upped their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.