HP Inc. (NYSE:HPQ) Shares Sold by IHT Wealth Management LLC

IHT Wealth Management LLC decreased its holdings in shares of HP Inc. (NYSE:HPQ – Get Rating) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 41,010 shares of the computer maker’s stock after selling 765 shares during the quarter. IHT Wealth Management LLC’s holdings in HP were worth $1,022,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. B. Riley Wealth Advisors Inc. boosted its stake in shares of HP by 6.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 15,057 shares of the computer maker’s stock worth $376,000 after buying an additional 879 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of HP during the third quarter worth about $16,497,000. FourThought Financial LLC lifted its position in HP by 5.4% in the third quarter. FourThought Financial LLC now owns 7,052 shares of the computer maker’s stock valued at $176,000 after purchasing an additional 363 shares during the period. California State Teachers Retirement System lifted its position in HP by 2.5% in the third quarter. California State Teachers Retirement System now owns 1,824,388 shares of the computer maker’s stock valued at $45,464,000 after purchasing an additional 44,954 shares during the period. Finally, M&T Bank Corp lifted its position in HP by 2.3% in the third quarter. M&T Bank Corp now owns 179,870 shares of the computer maker’s stock valued at $4,484,000 after purchasing an additional 3,970 shares during the period. Institutional investors and hedge funds own 79.68% of the company’s stock.

HP Stock Performance

HPQ stock opened at $28.04 on Friday. The stock has a market capitalization of $27.63 billion, a P/E ratio of 11.17, a PEG ratio of 3.09 and a beta of 1.01. HP Inc. has a one year low of $24.08 and a one year high of $41.47. The company has a 50 day moving average price of $28.92 and a two-hundred day moving average price of $27.98.

HP (NYSE:HPQ – Get Rating) last released its earnings results on Tuesday, February 28th. The computer maker reported $0.75 EPS for the quarter, topping the consensus estimate 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 net margin of 4.36% and a negative return on equity of 141.20%. HP’s revenue for the quarter was down 18.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. Research analysts forecast that HP Inc. will post 3.29 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be paid a $0.2625 dividend. The ex-dividend date of this dividend is Tuesday, March 7th. This represents a $1.05 annualized dividend and a yield of 3.74%. HP’s payout ratio is currently 41.83%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HPQ shares. Credit Suisse Group downgraded shares of HP from an “outperform” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Friday, November 18th. Citigroup reduced their price target 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. Cfra set a $31.00 price target on shares of HP in a research report on Thursday, November 24th. Sanford C. Bernstein reduced their price target on shares of HP from $30.00 to $29.00 in a research report on Monday, January 9th. Finally, Barclays reduced their price target on shares of HP from $27.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, November 23rd. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.40.

Insiders Place Their Bets

In other news, CFO Marie Myers sold 7,380 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total transaction of $220,440.60. Following the completion of the sale, the chief financial officer now directly owns 22,648 shares of the company’s stock, valued at approximately $676,495.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Marie Myers sold 7,380 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total transaction of $220,440.60. Following the completion of the sale, the chief financial officer now directly owns 22,648 shares of the company’s stock, valued at approximately $676,495.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David P. Mcquarrie sold 20,609 shares of the business’s stock in a transaction on Wednesday, December 28th. The shares were 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 $121,238.64. The disclosure for this sale can be found here. In the last three months, insiders sold 76,749 shares of company stock valued at $2,105,460. Company insiders own 0.32% of the company’s stock.

HP 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.