CVA Family Office LLC Buys New Holdings in HP Inc. (NYSE:HPQ)

CVA Family Office LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,180 shares of the computer maker’s stock, valued at approximately $66,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after buying an additional 12,883,347 shares during the period. Geode Capital Management LLC raised its stake in shares of HP by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock valued at $568,395,000 after acquiring an additional 421,075 shares during the period. Morgan Stanley lifted its holdings in shares of HP by 22.5% during the 4th quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock valued at $393,364,000 after acquiring an additional 2,686,976 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in HP by 114,461.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock worth $310,043,000 after purchasing an additional 11,528,558 shares during the period. Finally, Northern Trust Corp increased its holdings in HP by 6.2% in the 3rd quarter. Northern Trust Corp now owns 10,131,560 shares of the computer maker’s stock valued at $260,381,000 after purchasing an additional 589,775 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 38,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the sale, the chief executive officer now directly owns 888,911 shares in the company, valued at approximately $26,445,102.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HP news, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the transaction, the chief executive officer now owns 888,911 shares in the company, valued at approximately $26,445,102.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,723 shares of company stock valued at $4,609,787. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ stock opened at $30.12 on Thursday. The stock has a market capitalization of $29.54 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 2.51 and a beta of 1.04. HP Inc. has a one year low of $25.22 and a one year high of $33.90. The company’s 50-day simple moving average is $29.27 and its 200-day simple moving average is $28.54.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. HP’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts forecast that HP Inc. will post 3.41 EPS for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be paid a dividend of $0.2756 per share. The ex-dividend date is Tuesday, March 12th. This represents a $1.10 annualized dividend and a yield of 3.66%. HP’s payout ratio is 32.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HPQ shares. Evercore ISI raised HP from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $33.00 to $40.00 in a research report on Monday, December 11th. Barclays increased their price objective on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $31.00 to $35.00 in a report on Tuesday, December 12th. Finally, HSBC upgraded shares of 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 report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

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.