Corient Private Wealth LLC Cuts Stock Position in HP Inc. (NYSE:HPQ)

Corient Private Wealth LLC lessened its holdings in HP Inc. (NYSE:HPQ) by 18.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 330,677 shares of the computer maker’s stock after selling 75,027 shares during the period. Corient Private Wealth LLC’s holdings in HP were worth $10,790,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. King Luther Capital Management Corp raised its stake in shares of HP by 3.2% in the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after acquiring an additional 303 shares during the period. HBK Sorce Advisory LLC raised its stake in shares of HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after acquiring an additional 306 shares during the period. Auxano Advisors LLC raised its stake in shares of HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after acquiring an additional 310 shares during the period. Wedmont Private Capital raised its stake in shares of HP by 2.6% in the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in shares of HP by 2.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after acquiring an additional 319 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $28.76 on Thursday. The firm has a market cap of $27.11 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80. The firm has a fifty day moving average of $32.07 and a two-hundred day moving average of $34.28.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. 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 Announces Dividend

The firm also recently disclosed 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.37%.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HPQ. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Morgan Stanley dropped their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. TD Cowen dropped their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Finally, Barclays lifted their price target on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and a consensus target price of $36.14.

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.