B.O.S.S. Retirement Advisors LLC Decreases Position in HP Inc. (NYSE:HPQ)

B.O.S.S. Retirement Advisors LLC reduced its position in shares of HP Inc. (NYSE:HPQ) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,565 shares of the computer maker’s stock after selling 2,126 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in HP were worth $1,768,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Berkshire Hathaway Inc lifted its holdings in HP by 15.8% in the 1st quarter. Berkshire Hathaway Inc now owns 120,952,818 shares of the computer maker’s stock valued at $3,549,965,000 after purchasing an additional 16,476,783 shares in the last quarter. BlackRock Inc. raised its holdings in HP by 2.4% in the 1st quarter. BlackRock Inc. now owns 92,440,460 shares of the computer maker’s stock valued at $2,713,127,000 after acquiring an additional 2,170,423 shares during the last quarter. Geode Capital Management LLC raised its holdings in HP by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock valued at $568,395,000 after acquiring an additional 421,075 shares during the last quarter. Morgan Stanley raised its holdings in HP by 22.5% in the 4th quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock valued at $393,364,000 after acquiring an additional 2,686,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in HP by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,172,980 shares of the computer maker’s stock valued at $386,619,000 after acquiring an additional 48,539 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.

HP Stock Performance

Shares of HPQ traded down $0.48 during midday trading on Friday, hitting $27.34. 14,900,388 shares of the stock were exchanged, compared to its average volume of 6,777,882. HP Inc. has a 52-week low of $24.08 and a 52-week high of $33.90. The stock has a fifty day simple moving average of $31.58 and a 200 day simple moving average of $30.29. The firm has a market cap of $27.02 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.14 and a beta of 1.02.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, August 29th. The computer maker reported $0.86 EPS for the quarter, hitting the consensus estimate of $0.86. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The business had revenue of $13.20 billion during the quarter, compared to analyst estimates of $13.38 billion. During the same period last year, the business posted $1.04 earnings per share. The company’s quarterly revenue was down 9.9% on a year-over-year basis. As a group, equities research analysts forecast that HP Inc. will post 3.3 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 annualized dividend and a dividend yield of 3.84%. HP’s dividend payout ratio is presently 45.26%.

Analysts Set New Price Targets

Several analysts have issued reports on HPQ shares. JPMorgan Chase & Co. dropped their target price on HP from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, August 30th. Bank of America decreased their target price on shares of HP from $27.00 to $25.00 and set an “underperform” rating on the stock in a report on Wednesday, August 30th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Citigroup decreased their target price on shares of HP from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, August 30th. Finally, Morgan Stanley decreased their target price on shares of HP from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, HP has a consensus rating of “Hold” and an average price target of $29.73.

Insider Transactions at HP

In other news, insider Alex Cho sold 22,490 shares of the company’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $30.50, for a total transaction of $685,945.00. Following the sale, the insider now owns 22,003 shares of the company’s stock, valued at $671,091.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Berkshire Hathaway Inc sold 938,968 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $29.59, for a total transaction of $27,784,063.12. Following the sale, the insider now directly owns 120,013,850 shares in the company, valued at $3,551,209,821.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alex Cho sold 22,490 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $30.50, for a total transaction of $685,945.00. Following the sale, the insider now owns 22,003 shares in the company, valued at $671,091.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,030,824 shares of company stock valued at $116,034,788. 0.32% of the stock is currently owned by corporate insiders.

About HP

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.