Cypress Capital Group Trims Stock Position in HP Inc. (NYSE:HPQ)

Cypress Capital Group cut its holdings in shares of HP Inc. (NYSE:HPQ) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,479 shares of the computer maker’s stock after selling 508 shares during the period. Cypress Capital Group’s holdings in HP were worth $897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. King Luther Capital Management Corp boosted its stake in shares of HP by 3.2% during the third 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 in the last quarter. Arvest Investments Inc. boosted its stake in shares of HP by 0.9% during the third 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. Auxano Advisors LLC boosted its stake in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after purchasing an additional 310 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in shares of HP by 4.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after purchasing an additional 316 shares in the last quarter. Finally, Wedmont Private Capital boosted its stake in shares of HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after purchasing an additional 316 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Trading Up 1.0 %

NYSE:HPQ opened at $29.60 on Thursday. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The firm has a fifty day simple moving average of $32.88 and a 200-day simple moving average of $34.72. The company has a market capitalization of $27.91 billion, a P/E ratio of 10.53, a PEG ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last posted 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 business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. Equities analysts forecast that HP Inc. will post 3.56 EPS for the current 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 issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.91%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling

In related news, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,737 shares of company stock valued at $9,316,641 over the last 90 days. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of a number of recent research reports. TD Cowen dropped their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Sanford C. Bernstein raised their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, HP presently has a consensus rating of “Hold” and a consensus target price of $36.14.

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.