HP Inc. (NYSE:HPQ) Shares Sold by Transform Wealth LLC

Transform Wealth LLC trimmed its holdings in HP Inc. (NYSE:HPQ) by 30.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,376 shares of the computer maker’s stock after selling 3,197 shares during the period. Transform Wealth LLC’s holdings in HP were worth $206,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in HP in the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in HP during the fourth quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in shares of HP in the 4th quarter worth approximately $37,000. CoreCap Advisors LLC increased its stake in HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock worth $46,000 after purchasing an additional 587 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of HP during the 4th quarter valued at $55,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Performance

HPQ stock opened at $24.83 on Thursday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market cap of $23.32 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30. The stock’s 50 day simple moving average is $25.66 and its 200 day simple moving average is $30.03.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. HP’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.82 EPS. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.66%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is 44.40%.

Analyst Ratings Changes

A number of analysts have issued reports on HPQ shares. Evercore ISI lowered their target price on HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Barclays set a $28.00 price objective on shares of HP and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Citigroup decreased their price target on shares of HP from $29.00 to $27.50 and set a “neutral” rating for the company in a research note on Thursday, May 29th. KGI Securities assumed coverage on HP in a report on Thursday, May 29th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company reduced their price target on HP from $35.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $29.54.

Insider Transactions at HP

In other news, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on 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 currently owned by company insiders.

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.