Farther Finance Advisors LLC Decreases Stock Position in HP Inc. (NYSE:HPQ)

Farther Finance Advisors LLC decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,417 shares of the computer maker’s stock after selling 442 shares during the period. Farther Finance Advisors LLC’s holdings in HP were worth $699,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Sequoia Financial Advisors LLC increased its stake in HP by 7.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 25,128 shares of the computer maker’s stock valued at $820,000 after purchasing an additional 1,715 shares in the last quarter. HighTower Advisors LLC increased its position in shares of HP by 1.0% in the 4th quarter. HighTower Advisors LLC now owns 191,082 shares of the computer maker’s stock valued at $6,235,000 after acquiring an additional 1,835 shares during the period. Wealthfront Advisers LLC raised its stake in HP by 423.6% in the 4th quarter. Wealthfront Advisers LLC now owns 230,391 shares of the computer maker’s stock worth $7,518,000 after acquiring an additional 186,386 shares during the last quarter. Global View Capital Management LLC acquired a new stake in HP during the 4th quarter worth about $229,000. Finally, Citizens Financial Group Inc. RI grew its stake in HP by 9.4% during the 4th quarter. Citizens Financial Group Inc. RI now owns 14,486 shares of the computer maker’s stock valued at $473,000 after purchasing an additional 1,247 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 1.8 %

Shares of HP stock opened at $28.43 on Friday. The firm has a market cap of $26.80 billion, a PE ratio of 10.12, a P/E/G ratio of 2.96 and a beta of 1.09. The business has a 50-day moving average price of $32.36 and a 200 day moving average price of $34.42. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.07%. HP’s dividend payout ratio is currently 41.37%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HPQ. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. 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, February 28th. StockNews.com downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Finally, Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.14.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was 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 of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% 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.