Addison Advisors LLC Reduces Position in HP Inc. (NYSE:HPQ)

Addison Advisors LLC reduced its position in shares of HP Inc. (NYSE:HPQ) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,712 shares of the computer maker’s stock after selling 322 shares during the period. Addison Advisors LLC’s holdings in HP were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after acquiring an additional 160,268 shares during the last quarter. Oak Thistle LLC increased its position in shares of HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after purchasing an additional 21,805 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of HP by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after purchasing an additional 47,230 shares during the last quarter. MML Investors Services LLC boosted its position in shares of HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in HP by 4.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after buying an additional 18,557 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 0.2 %

Shares of HPQ opened at $34.71 on Tuesday. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 2.96 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 business’s 50 day moving average is $33.11 and its two-hundred day moving average is $34.87.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion during 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 business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. On average, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 3.34%. HP’s dividend payout ratio is currently 40.93%.

Analysts Set New Price Targets

HPQ has been the topic of a number of recent research reports. Sanford C. Bernstein lifted their target price 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. Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. HSBC downgraded 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 research note on Friday, November 29th. Wells Fargo & Company boosted their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Barclays increased their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, HP currently has an average rating of “Hold” and a consensus target price of $36.68.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock worth $9,670,068 in the last three months. 0.41% of the stock is owned by 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.