Graypoint LLC Sells 686 Shares of HP Inc. (NYSE:HPQ)

Graypoint LLC lessened its stake in HP Inc. (NYSE:HPQ) by 4.3% during the fourth quarter, HoldingsChannel reports. The firm owned 15,210 shares of the computer maker’s stock after selling 686 shares during the period. Graypoint LLC’s holdings in HP were worth $496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of HPQ. State Street Corp lifted its position in shares of 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 buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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. DME Capital Management LP lifted its holdings in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of HP by 11.4% in the third 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 in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HPQ. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. 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 report on Friday, November 29th. JPMorgan Chase & Co. reduced their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, TD Cowen increased their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.23.

HP Price Performance

Shares of NYSE:HPQ opened at $33.27 on Friday. The company’s fifty day moving average price is $35.20 and its 200-day moving average price is $35.43. The firm has a market capitalization of $31.20 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 2.95 and a beta of 1.05. HP Inc. has a one year low of $27.42 and a one year high of $39.79.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting 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 earned $0.90 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is presently 40.93%.

Insiders Place Their Bets

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 value of $357,500.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alex Cho sold 10,298 shares of the firm’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 owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by corporate insiders.

About HP

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.