Greenwood Capital Associates LLC Acquires 843 Shares of HP Inc. (NYSE:HPQ)

Greenwood Capital Associates LLC raised its stake in shares of HP Inc. (NYSE:HPQ) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,675 shares of the computer maker’s stock after purchasing an additional 843 shares during the period. Greenwood Capital Associates LLC’s holdings in HP were worth $1,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. LVW Advisors LLC grew its holdings in HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC raised its holdings in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc grew its holdings in HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares in the last quarter. King Luther Capital Management Corp increased its position in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after purchasing an additional 303 shares during the period. Finally, Arvest Investments Inc. raised its holdings in shares of HP by 0.9% in the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after purchasing an additional 310 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HPQ shares. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Citigroup decreased their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One equities 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.23.

HP Stock Down 0.3 %

Shares of NYSE:HPQ opened at $31.90 on Tuesday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The stock has a market cap of $29.91 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.77 and a beta of 1.05. The business has a 50-day moving average price of $33.92 and a 200-day moving average price of $35.11.

HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of 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 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. Insiders own 0.41% of the company’s stock.

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.