Mission Wealth Management LP Sells 631 Shares of HP Inc. (NYSE:HPQ)

Mission Wealth Management LP trimmed its stake in HP Inc. (NYSE:HPQ) by 1.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,542 shares of the computer maker’s stock after selling 631 shares during the period. Mission Wealth Management LP’s holdings in HP were worth $1,160,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC raised its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV lifted its stake in shares of HP by 145.1% during the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after acquiring an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in HP during the 4th quarter valued at $65,260,000. Finally, Pacer Advisors Inc. grew its position in HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after acquiring an additional 1,455,138 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction on 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 of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 262,737 shares of company stock worth $9,316,641 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HPQ shares. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Barclays lifted their price target on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Morgan Stanley dropped their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.59.

HP Trading Down 2.7 %

Shares of HPQ stock opened at $30.03 on Tuesday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The stock has a market cap of $28.32 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.96 and a beta of 1.05. The stock has a 50 day moving average of $33.04 and a 200 day moving average of $34.80.

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

HP Announces Dividend

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 given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

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.