TRUE Private Wealth Advisors Takes Position in HP Inc. (NYSE:HPQ)

TRUE Private Wealth Advisors bought a new position in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,980 shares of the computer maker’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in HP by 12.3% during the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares during the period. Geode Capital Management LLC boosted its stake in HP by 2.2% during the first quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock worth $568,395,000 after buying an additional 421,075 shares in the last quarter. Morgan Stanley boosted its stake in HP by 22.5% during the fourth quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock worth $393,364,000 after buying an additional 2,686,976 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in HP by 114,461.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock worth $310,043,000 after buying an additional 11,528,558 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in HP by 6.2% during the third quarter. Northern Trust Corp now owns 10,131,560 shares of the computer maker’s stock worth $260,381,000 after buying an additional 589,775 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Trading Down 0.3 %

Shares of NYSE:HPQ opened at $27.62 on Friday. The stock has a market capitalization of $27.09 billion, a P/E ratio of 8.08, a P/E/G ratio of 2.32 and a beta of 1.05. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The business has a 50-day moving average price of $29.35 and a two-hundred day moving average price of $28.77.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. As a group, equities analysts predict that HP Inc. will post 3.42 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. The ex-dividend date was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 32.16%.

Insider Activity

In other news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares in the company, valued at $1,807,082.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock worth $3,479,287 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HPQ has been the topic of a number of recent research reports. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. Finally, Barclays boosted their target price on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, HP currently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

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.