Mission Wealth Management LP Decreases Stock Position in HP Inc. (NYSE:HPQ)

Mission Wealth Management LP trimmed its position in shares of HP Inc. (NYSE:HPQ) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 35,542 shares of the computer maker’s stock after selling 631 shares during the period. Mission Wealth Management LP’s holdings in HP were worth $1,160,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC purchased a new stake in shares of HP during the third quarter worth $25,000. Synergy Asset Management LLC acquired a new position in HP during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in HP during the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new stake in HP in the 3rd quarter valued at about $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in HP in the 3rd quarter worth approximately $44,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HPQ shares. Barclays upped their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday. Sanford C. Bernstein raised their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley reduced their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.59.

HP Price Performance

NYSE HPQ opened at $30.03 on Tuesday. The stock has a market capitalization of $28.32 billion, a P/E ratio of 10.69, a PEG ratio of 2.96 and a beta of 1.05. The firm’s 50-day moving average is $33.04 and its two-hundred day moving average is $34.80. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. As a group, analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.85%. HP’s payout ratio is presently 41.37%.

Insider Activity at HP

In related news, insider Alex Cho sold 40,287 shares of HP 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 transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,737 shares of company stock worth $9,316,641. 0.41% of the stock is currently owned by company 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.