CVA Family Office LLC Decreases Stock Position in HP Inc. (NYSE:HPQ)

CVA Family Office LLC cut its holdings in HP Inc. (NYSE:HPQ – Get Rating) by 12.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,940 shares of the computer maker’s stock after selling 415 shares during the quarter. CVA Family Office LLC’s holdings in HP were worth $73,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HPQ. Householder Group Estate & Retirement Specialist LLC acquired a new position in HP in the 3rd quarter valued at about $27,000. Covington Capital Management raised its stake in HP by 1.4% in the 3rd quarter. Covington Capital Management now owns 49,530 shares of the computer maker’s stock valued at $1,234,000 after purchasing an additional 686 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in HP by 5.8% in the 2nd quarter. Checchi Capital Advisers LLC now owns 14,803 shares of the computer maker’s stock valued at $494,000 after purchasing an additional 815 shares during the last quarter. Credit Agricole S A raised its stake in HP by 50.7% in the 3rd quarter. Credit Agricole S A now owns 5,328 shares of the computer maker’s stock valued at $133,000 after purchasing an additional 1,793 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in shares of HP by 11.1% during the 3rd quarter. Whittier Trust Co. now owns 26,449 shares of the computer maker’s stock valued at $659,000 after acquiring an additional 2,639 shares during the last quarter. 79.68% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Up 1.3 %

NYSE HPQ opened at $28.31 on Friday. The stock has a market cap of $27.89 billion, a PE ratio of 11.28, a P/E/G ratio of 3.04 and a beta of 1.01. HP Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $41.47. The business has a 50 day moving average price of $28.93 and a two-hundred day moving average price of $28.01.

HP (NYSE:HPQ – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.17 billion. HP had a negative return on equity of 141.20% and a net margin of 4.36%. HP’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. Sell-side analysts anticipate that HP Inc. will post 3.29 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th will be paid a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, March 7th. HP’s dividend payout ratio (DPR) is currently 41.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HPQ shares. UBS Group set a $30.00 price objective on shares of HP in a research note on Thursday, November 24th. Bank of America dropped their price objective on shares of HP from $27.00 to $26.00 in a research note on Wednesday, March 1st. Sanford C. Bernstein dropped their price objective on shares of HP from $30.00 to $29.00 in a research note on Monday, January 9th. Barclays dropped their price objective on shares of HP from $27.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, November 23rd. Finally, Citigroup dropped their target price on shares of HP from $33.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, November 18th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.40.

Insider Activity

In other news, CFO Marie Myers sold 7,380 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $29.87, for a total transaction of $220,440.60. Following the completion of the transaction, the chief financial officer now directly owns 22,648 shares in the company, valued at approximately $676,495.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider David P. Mcquarrie sold 20,609 shares of the company’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $26.64, for a total transaction of $549,023.76. Following the sale, the insider now directly owns 4,551 shares of the company’s stock, valued at approximately $121,238.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total value of $220,440.60. Following the sale, the chief financial officer now directly owns 22,648 shares in the company, valued at $676,495.76. The disclosure for this sale can be found here. In the last three months, insiders sold 76,749 shares of company stock worth $2,105,460. 0.32% of the stock is currently owned by insiders.

About HP

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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.