SVB Wealth LLC Buys 3,098 Shares of HP Inc. (NYSE:HPQ)

SVB Wealth LLC raised its stake in HP Inc. (NYSE:HPQ) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,457 shares of the computer maker’s stock after buying an additional 3,098 shares during the period. SVB Wealth LLC’s holdings in HP were worth $1,217,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HPQ. Whittier Trust Co. grew its position in HP by 1.4% during the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock worth $778,000 after acquiring an additional 362 shares during the last quarter. Horizon Investments LLC raised its holdings in HP by 3.3% in the 2nd quarter. Horizon Investments LLC now owns 12,002 shares of the computer maker’s stock valued at $369,000 after buying an additional 379 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after buying an additional 380 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in HP by 18.8% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock worth $73,000 after acquiring an additional 382 shares during the last quarter. Finally, Rosenberg Matthew Hamilton increased its position in HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after acquiring an additional 397 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several analyst reports. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. HSBC upgraded HP from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Finally, Barclays lifted their price objective on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, HP has a consensus rating of “Moderate Buy” and an average price target of $33.11.

HP Stock Performance

Shares of HPQ stock opened at $27.62 on Friday. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90. The stock has a 50 day simple moving average of $29.35 and a two-hundred day simple moving average of $28.77. The company has a market cap of $27.09 billion, a P/E ratio of 8.08, a PEG ratio of 2.32 and a beta of 1.05.

HP (NYSE:HPQ) last released its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. HP’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. On average, research analysts predict that HP Inc. will post 3.42 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a $0.2756 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. HP’s dividend payout ratio is presently 32.16%.

Insider Activity at HP

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $269,338.44. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock valued at $3,479,287 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.