HP Inc. (NYSE:HPQ) Stock Position Lessened by Leisure Capital Management

Leisure Capital Management reduced its stake in shares of HP Inc. (NYSE:HPQ) by 3.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 35,683 shares of the computer maker’s stock after selling 1,088 shares during the period. Leisure Capital Management’s holdings in HP were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. CENTRAL TRUST Co grew its holdings in HP by 2.2% during the fourth quarter. CENTRAL TRUST Co now owns 116,885 shares of the computer maker’s stock worth $3,814,000 after acquiring an additional 2,555 shares during the period. Greenleaf Trust raised its position in HP by 1.7% during the fourth quarter. Greenleaf Trust now owns 32,208 shares of the computer maker’s stock valued at $1,051,000 after buying an additional 548 shares during the period. Avantra Family Wealth Inc. acquired a new stake in shares of HP during the fourth quarter worth approximately $423,000. Spire Wealth Management grew its holdings in shares of HP by 4,264.7% during the 4th quarter. Spire Wealth Management now owns 143,468 shares of the computer maker’s stock valued at $4,681,000 after acquiring an additional 140,181 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its position in HP by 34.0% in the 4th quarter. DAVENPORT & Co LLC now owns 2,394,375 shares of the computer maker’s stock worth $78,128,000 after purchasing an additional 607,893 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Down 0.9 %

Shares of NYSE:HPQ opened at $32.51 on Monday. The firm has a market cap of $30.48 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.77 and a beta of 1.05. The business has a fifty day simple moving average of $33.92 and a 200 day simple moving average of $35.11. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, equities research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed 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. 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 3.56%. HP’s payout ratio is 41.28%.

Analysts Set New Price Targets

Several research firms recently issued reports on HPQ. Sanford C. Bernstein lifted their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus price target of $36.23.

Insider Activity at HP

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,035 shares of company stock valued at $9,670,068. Company 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.