Jacobi Capital Management LLC Sells 5,015 Shares of HP Inc. (NYSE:HPQ)

Jacobi Capital Management LLC lessened its position in HP Inc. (NYSE:HPQ) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,102 shares of the computer maker’s stock after selling 5,015 shares during the period. Jacobi Capital Management LLC’s holdings in HP were worth $1,537,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of HP during the third quarter worth $25,000. Synergy Asset Management LLC bought a new stake in shares of HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in HP during the fourth quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in HP during the third quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in HP during the third quarter worth $44,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Down 7.2 %

NYSE:HPQ opened at $30.75 on Friday. The company has a fifty day moving average of $33.11 and a 200-day moving average of $34.84. The firm has a market capitalization of $28.83 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.77%. HP’s payout ratio is currently 40.93%.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alex Cho sold 40,287 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 262,737 shares of company stock worth $9,316,641 over the last quarter. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on HPQ shares. TD Cowen reduced their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday. Wells Fargo & Company increased their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley reduced their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday. Citigroup reduced their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.59.

HP Profile

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.