CoreCap Advisors LLC Acquires 587 Shares of HP Inc. (NYSE:HPQ)

CoreCap Advisors LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 71.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,403 shares of the computer maker’s stock after buying an additional 587 shares during the period. CoreCap Advisors LLC’s holdings in HP were worth $46,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in HP in the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new position in HP in the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in HP in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new stake in HP during the 4th quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in HP during the 4th quarter valued at $50,000. 77.53% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction that occurred 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 directly owns 169 shares of the company’s stock, valued at $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HPQ shares. Evercore ISI decreased their target price on shares of HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research note on Monday, April 28th. Barclays upped their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research note on Monday. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Loop Capital cut their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $33.83.

HP Trading Down 0.6%

HPQ stock opened at $28.60 on Thursday. The company has a market cap of $26.96 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 2.96 and a beta of 1.32. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The firm has a 50-day moving average of $26.15 and a two-hundred day moving average of $31.43.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.05%. HP’s dividend payout ratio (DPR) is 41.37%.

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.