SVB Wealth LLC Acquires 3,098 Shares of HP Inc. (NYSE:HPQ)

SVB Wealth LLC lifted its position in HP Inc. (NYSE:HPQ) by 8.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,457 shares of the computer maker’s stock after purchasing an additional 3,098 shares during the period. SVB Wealth LLC’s holdings in HP were worth $1,217,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in HPQ. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of HP by 89.9% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock valued at $31,698,000 after acquiring an additional 413,491 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of HP by 46.6% during the first quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock valued at $11,103,000 after acquiring an additional 97,178 shares in the last quarter. Prudential PLC purchased a new stake in HP in the first quarter worth $892,000. Cetera Investment Advisers boosted its holdings in HP by 6.8% in the first quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock valued at $641,000 after acquiring an additional 1,121 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in HP during the 1st quarter valued at $309,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Barclays lifted their price objective on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, HSBC upgraded HP from a “hold” rating to a “buy” rating and raised their target price for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.11.

HP Stock Down 0.3 %

HPQ stock opened at $27.62 on Friday. The business has a 50 day moving average of $29.35 and a 200 day moving average of $28.77. The firm has a market cap of $27.09 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05. HP Inc. has a twelve month low of $25.22 and a twelve month high of $33.90.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. On average, research analysts expect that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $0.2756 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. HP’s dividend payout ratio is presently 32.16%.

Insider Activity

In related news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other HP news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock worth $3,479,287 over the last 90 days. 0.41% of the stock is currently owned by insiders.

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.