Gitterman Wealth Management LLC Grows Position in HP Inc. (NYSE:HPQ)

Gitterman Wealth Management LLC lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 94.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,396 shares of the computer maker’s stock after buying an additional 7,973 shares during the period. Gitterman Wealth Management LLC’s holdings in HP were worth $535,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in shares of HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after buying an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after buying an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of HP by 7.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after buying an additional 612,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in HP by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after acquiring an additional 90,606 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Barclays increased their target price on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Finally, Morgan Stanley lowered their target price on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $36.14.

HP Stock Up 1.8 %

NYSE HPQ opened at $28.43 on Friday. The stock’s 50-day moving average price is $32.36 and its 200-day moving average price is $34.42. The company has a market capitalization of $26.80 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 52 week low of $27.43 and a 52 week high of $39.80.

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

HP Announces Dividend

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

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of HP 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 sale, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is 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.