Shelton Capital Management Purchases 201,260 Shares of HP Inc. (NYSE:HPQ)

Shelton Capital Management increased its position in HP Inc. (NYSE:HPQ) by 113.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 378,106 shares of the computer maker’s stock after buying an additional 201,260 shares during the quarter. Shelton Capital Management’s holdings in HP were worth $12,338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. TIAA Trust National Association grew its position in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after purchasing an additional 302 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC lifted its stake in HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after acquiring an additional 310 shares during the period. Wedmont Private Capital grew its stake in shares of HP by 2.6% in the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after acquiring an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc grew its stake in shares of HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after acquiring an additional 319 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Up 3.1 %

HP stock opened at $23.32 on Tuesday. The firm’s fifty day moving average is $30.58 and its 200 day moving average is $33.62. HP Inc. has a 52-week low of $21.59 and a 52-week high of $39.80. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Wednesday, March 12th. HP’s dividend payout ratio is presently 41.37%.

Insider Buying and Selling at HP

In other news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HPQ. TD Cowen dropped their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a report on Thursday, March 27th. Morgan Stanley dropped their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Barclays upped their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Wells Fargo & Company upped their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, HP presently has a consensus rating of “Hold” and a consensus target price of $36.14.

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.