Brinker Capital Investments LLC Trims Stock Position in HP Inc. (NYSE:HPQ)

Brinker Capital Investments LLC cut its stake in shares of HP Inc. (NYSE:HPQ – Get Rating) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,620 shares of the computer maker’s stock after selling 3,790 shares during the period. Brinker Capital Investments LLC’s holdings in HP were worth $539,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Certified Advisory Corp acquired a new position in HP during the 1st quarter worth approximately $26,000. GHP Investment Advisors Inc. acquired a new position in HP during the 2nd quarter worth approximately $26,000. Central Bank & Trust Co. increased its position in HP by 50.4% during the 2nd quarter. Central Bank & Trust Co. now owns 1,026 shares of the computer maker’s stock worth $34,000 after purchasing an additional 344 shares during the period. Exchange Traded Concepts LLC increased its position in HP by 665.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,072 shares of the computer maker’s stock worth $27,000 after purchasing an additional 932 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new position in HP during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 79.68% of the company’s stock.

HP Stock Performance

HPQ stock opened at $28.40 on Wednesday. HP Inc. has a 1 year low of $24.08 and a 1 year high of $41.47. The stock’s 50 day moving average price is $28.16 and its 200 day moving average price is $28.94. The firm has a market cap of $27.89 billion, a P/E ratio of 9.44, a PEG ratio of 3.06 and a beta of 1.02.

HP (NYSE:HPQ – Get Rating) last posted its earnings results on Tuesday, November 22nd. The computer maker reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. HP had a negative return on equity of 181.32% and a net margin of 5.09%. The firm had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.68 billion. During the same quarter in the prior year, the company earned $0.94 EPS. HP’s revenue was down 11.2% on a year-over-year basis. On average, research analysts predict that HP Inc. will post 3.33 earnings per share for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.2625 per share. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Tuesday, March 7th. HP’s dividend payout ratio is presently 34.88%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HPQ shares. Sanford C. Bernstein dropped their target price on HP from $30.00 to $29.00 in a research report on Monday, January 9th. Citigroup lowered their price target on HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, November 18th. Bank of America lowered their price target on HP from $30.00 to $27.00 and set an “underperform” rating on the stock in a report on Friday, November 18th. Barclays lowered their price target on HP from $27.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday, November 23rd. Finally, Cfra set a $31.00 price target on HP in a report on Thursday, November 24th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.60.

Insiders Place Their Bets

In other HP news, insider Tuan Tran sold 108,918 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $29.99, for a total transaction of $3,266,450.82. Following the transaction, the insider now owns 61,465 shares of the company’s stock, valued at approximately $1,843,335.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Enrique Lores sold 34,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $27.13, for a total value of $922,420.00. Following the transaction, the chief executive officer now directly owns 804,268 shares of the company’s stock, valued at approximately $21,819,790.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tuan Tran sold 108,918 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $29.99, for a total value of $3,266,450.82. Following the completion of the transaction, the insider now directly owns 61,465 shares in the company, valued at $1,843,335.35. The disclosure for this sale can be found here. Insiders have sold a total of 248,322 shares of company stock valued at $7,157,022 in the last quarter. 0.22% of the stock is currently owned by company insiders.

HP Company Profile

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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.