HighTower Advisors LLC Boosts Stock Holdings in HP Inc. (NYSE:HPQ)

HighTower Advisors LLC grew its holdings in HP Inc. (NYSE:HPQ) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,082 shares of the computer maker’s stock after purchasing an additional 1,835 shares during the period. HighTower Advisors LLC’s holdings in HP were worth $6,235,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. lifted its position in shares of HP by 108.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 15,213 shares of the computer maker’s stock worth $546,000 after acquiring an additional 7,924 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of HP by 10.7% during the third quarter. Mutual of America Capital Management LLC now owns 120,482 shares of the computer maker’s stock valued at $4,322,000 after buying an additional 11,644 shares during the period. Thrivent Financial for Lutherans lifted its holdings in shares of HP by 10.9% in the third quarter. Thrivent Financial for Lutherans now owns 64,228 shares of the computer maker’s stock worth $2,303,000 after buying an additional 6,299 shares in the last quarter. Swiss National Bank boosted its position in shares of HP by 0.3% in the third quarter. Swiss National Bank now owns 2,904,500 shares of the computer maker’s stock valued at $104,184,000 after acquiring an additional 7,400 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in HP by 12.8% during the 3rd quarter. Meeder Advisory Services Inc. now owns 16,892 shares of the computer maker’s stock worth $606,000 after acquiring an additional 1,923 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Down 0.8 %

Shares of HP stock opened at $28.68 on Wednesday. The company’s fifty day simple moving average is $32.16 and its two-hundred day simple moving average is $34.32. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80. The company has a market cap of $27.04 billion, a P/E ratio of 10.21, a PEG ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Ratings Changes

A number of research analysts have recently commented on HPQ shares. JPMorgan Chase & Co. reduced their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Morgan Stanley lowered their target price 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. Loop Capital cut their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Finally, StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.14.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

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.