Linscomb Wealth Inc. Invests $203,000 in HP Inc. (NYSE:HPQ)

Linscomb Wealth Inc. purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 6,227 shares of the computer maker’s stock, valued at approximately $203,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in HP by 8.2% during the 3rd 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 holdings in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV lifted its position in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in HP in the fourth quarter worth approximately $65,260,000. Finally, Pacer Advisors Inc. grew its position in HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

Shares of NYSE:HPQ opened at $30.75 on Friday. The firm’s 50 day simple moving average is $33.11 and its two-hundred day simple moving average is $34.84. The company has a market capitalization of $28.83 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 3.77%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 40.93%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HPQ. Sanford C. Bernstein increased their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Finally, Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. 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 company’s stock. According to MarketBeat.com, HP has an average rating of “Hold” and a consensus price target of $36.59.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 262,737 shares of company stock valued at $9,316,641. Corporate insiders own 0.41% of the company’s stock.

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.