HP Inc. (NYSE:HPQ) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its holdings in HP Inc. (NYSE:HPQ) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,814 shares of the computer maker’s stock after purchasing an additional 1,923 shares during the period. Concurrent Investment Advisors LLC’s holdings in HP were worth $288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HPQ. State Street Corp boosted its holdings in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC grew its position in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. KBC Group NV increased its holdings in shares of HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in HP during the fourth quarter worth approximately $65,260,000. Finally, Pacer Advisors Inc. boosted its stake in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Down 1.7 %

Shares of HP stock opened at $34.08 on Wednesday. The company has a 50-day moving average of $33.11 and a two-hundred day moving average of $34.88. The stock has a market cap of $31.96 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. On average, sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 40.93%.

Insider Buying and Selling

In related news, insider Alex Cho sold 40,287 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. 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. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. TD Cowen raised their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Citigroup cut their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays upped their target price on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.68.

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.