Turtle Creek Wealth Advisors LLC Buys New Position in HP Inc. (NYSE:HPQ)

Turtle Creek Wealth Advisors LLC bought a new stake in HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 945 shares of the computer maker’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. HBK Sorce Advisory LLC raised its position in HP by 5.6% in the 4th quarter. HBK Sorce Advisory LLC now owns 12,094 shares of the computer maker’s stock valued at $364,000 after buying an additional 641 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of HP during the 4th quarter valued at $1,471,000. Mainstay Capital Management LLC ADV increased its position in shares of HP by 20.4% during the 4th quarter. Mainstay Capital Management LLC ADV now owns 56,683 shares of the computer maker’s stock valued at $1,706,000 after purchasing an additional 9,622 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of HP by 87.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after purchasing an additional 358,231 shares during the last quarter. Finally, Stratos Wealth Advisors LLC purchased a new stake in shares of HP during the 4th quarter valued at $393,000. 77.53% of the stock is currently owned by institutional investors.

HP Trading Down 2.4 %

Shares of NYSE HPQ opened at $28.53 on Friday. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The firm has a market capitalization of $27.98 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.44 and a beta of 1.05. The business has a 50-day moving average of $29.39 and a 200-day moving average of $28.71.

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

HP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s dividend payout ratio is currently 32.16%.

Insiders Place Their Bets

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock valued at $3,479,287 over the last quarter. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Barclays raised their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. HSBC raised 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 report on Wednesday, February 14th. Finally, StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, HP presently has an average rating of “Moderate Buy” and an average target price of $33.11.

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.