HBK Sorce Advisory LLC Acquires 641 Shares of HP Inc. (NYSE:HPQ)

HBK Sorce Advisory LLC raised its position in shares of HP Inc. (NYSE:HPQ) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,094 shares of the computer maker’s stock after buying an additional 641 shares during the quarter. HBK Sorce Advisory LLC’s holdings in HP were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Whittier Trust Co. raised its position in shares of HP by 1.4% in the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after purchasing an additional 362 shares during the last quarter. Horizon Investments LLC grew its stake in HP by 3.3% in the 2nd quarter. Horizon Investments LLC now owns 12,002 shares of the computer maker’s stock valued at $369,000 after acquiring an additional 379 shares during the period. Salem Investment Counselors Inc. lifted its holdings in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in HP by 18.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock valued at $73,000 after purchasing an additional 382 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HPQ. Barclays lifted their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. HSBC raised HP from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.11.

HP Stock Down 3.4 %

HPQ stock opened at $28.95 on Thursday. The business has a 50 day moving average price of $29.39 and a 200 day moving average price of $28.69. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 2.45 and a beta of 1.05. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90.

HP (NYSE:HPQ) last posted its earnings results 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 firm’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts anticipate that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The company also recently disclosed 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 3.81%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s payout ratio is currently 32.16%.

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.