Salem Investment Counselors Inc. Boosts Stock Position in HP Inc. (NYSE:HPQ)

Salem Investment Counselors Inc. lifted its holdings in shares of HP Inc. (NYSE:HPQFree Report) by 47.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,174 shares of the computer maker’s stock after buying an additional 380 shares during the period. Salem Investment Counselors Inc.’s holdings in HP were worth $36,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mascoma Wealth Management LLC purchased a new position in shares of HP during the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton grew its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after acquiring an additional 397 shares during the period. Certified Advisory Corp acquired a new stake in shares of HP in the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of HP in the 3rd quarter worth approximately $32,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of HP in the 4th quarter worth approximately $32,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley upgraded HP from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $31.00 to $35.00 in a report on Tuesday, December 12th. Barclays increased their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Evercore ISI upgraded HP from an “in-line” rating to an “outperform” rating and increased their target price for the company from $33.00 to $40.00 in a report on Monday, December 11th. HSBC upgraded HP from a “hold” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. Finally, StockNews.com cut 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 issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Get Our Latest Stock Analysis on HP

Insider Activity at HP

In related news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Enrique Lores sold 38,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the completion of the transaction, the chief executive officer now directly owns 888,911 shares of the company’s stock, valued at $26,445,102.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were 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 154,723 shares of company stock valued at $4,609,787 over the last three months. 0.41% of the stock is owned by insiders.

HP Price Performance

NYSE:HPQ opened at $29.88 on Tuesday. The business’s 50-day moving average is $29.25 and its two-hundred day moving average is $28.53. 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 $29.30 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04.

HP (NYSE:HPQGet Free Report) last announced its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts anticipate that HP Inc. will post 3.41 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be issued a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.69%. The ex-dividend date is Tuesday, March 12th. HP’s dividend payout ratio is currently 32.16%.

About HP

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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