Graypoint LLC Sells 686 Shares of HP Inc. (NYSE:HPQ)

Graypoint LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,210 shares of the computer maker’s stock after selling 686 shares during the period. Graypoint LLC’s holdings in HP were worth $496,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HPQ. Harbor Capital Advisors Inc. grew its holdings in shares of HP by 3.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,534 shares of the computer maker’s stock worth $442,000 after purchasing an additional 482 shares during the last quarter. First Hawaiian Bank grew its holdings in HP by 3.5% during the 4th quarter. First Hawaiian Bank now owns 62,304 shares of the computer maker’s stock worth $2,033,000 after acquiring an additional 2,103 shares during the last quarter. Range Financial Group LLC increased its position in HP by 127.0% in the 4th quarter. Range Financial Group LLC now owns 31,080 shares of the computer maker’s stock valued at $1,014,000 after acquiring an additional 17,386 shares during the period. Neville Rodie & Shaw Inc. raised its stake in shares of HP by 59.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 28,032 shares of the computer maker’s stock valued at $915,000 after acquiring an additional 10,500 shares during the last quarter. Finally, Pensionfund Sabic lifted its holdings in shares of HP by 41.3% during the fourth quarter. Pensionfund Sabic now owns 44,500 shares of the computer maker’s stock worth $1,452,000 after purchasing an additional 13,000 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on 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. This trade represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock worth $9,670,068 over the last three months. 0.41% of the stock is currently owned by insiders.

HP Trading Down 0.5 %

Shares of NYSE HPQ opened at $33.27 on Friday. The firm has a market capitalization of $31.20 billion, a P/E ratio of 11.84, a P/E/G ratio of 2.95 and a beta of 1.05. The firm’s 50-day moving average price is $35.20 and its 200-day moving average price is $35.43. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.2894 per share. This is an increase from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.48%. HP’s dividend payout ratio is presently 40.93%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HPQ shares. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. TD Cowen boosted their price target 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. Finally, HSBC cut shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $36.23.

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.