Wingate Wealth Advisors Inc. Acquires New Position in HP Inc. (NYSE:HPQ)

Wingate Wealth Advisors Inc. acquired a new stake in HP Inc. (NYSE:HPQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,538 shares of the computer maker’s stock, valued at approximately $50,000.

A number of other hedge funds have also recently added to or reduced their stakes in HPQ. Savant Capital LLC lifted its position in shares of HP by 3.1% during the 4th quarter. Savant Capital LLC now owns 40,380 shares of the computer maker’s stock valued at $1,318,000 after acquiring an additional 1,230 shares during the period. Angeles Wealth Management LLC lifted its position in shares of HP by 54.8% during the 4th quarter. Angeles Wealth Management LLC now owns 10,268 shares of the computer maker’s stock valued at $335,000 after acquiring an additional 3,637 shares during the period. Stephens Inc. AR lifted its position in shares of HP by 1,314.6% during the 4th quarter. Stephens Inc. AR now owns 226,255 shares of the computer maker’s stock valued at $7,383,000 after acquiring an additional 210,261 shares during the period. Empirical Finance LLC lifted its position in shares of HP by 27.7% during the 4th quarter. Empirical Finance LLC now owns 68,057 shares of the computer maker’s stock valued at $2,221,000 after acquiring an additional 14,778 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of HP by 158.9% during the 4th quarter. Empowered Funds LLC now owns 355,040 shares of the computer maker’s stock valued at $11,585,000 after acquiring an additional 217,910 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling

In other HP news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at $1,933,898.67. This represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 273,035 shares of company stock valued at $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Stock Up 1.7 %

Shares of NYSE HPQ opened at $32.83 on Tuesday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The firm has a fifty day moving average of $33.49 and a 200-day moving average of $34.92. The stock has a market capitalization of $30.79 billion, a PE ratio of 11.68, a P/E/G ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period in the previous year, the company earned $0.90 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.53%. HP’s dividend payout ratio (DPR) is 41.28%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HPQ shares. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Sanford C. Bernstein lifted their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, HP currently has a consensus rating of “Hold” and an average target price of $36.23.

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.