Kingswood Wealth Advisors LLC Makes New $527,000 Investment in HP Inc. (NYSE:HPQ)

Kingswood Wealth Advisors LLC acquired a new position in HP Inc. (NYSE:HPQ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,499 shares of the computer maker’s stock, valued at approximately $527,000.

Other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in HP by 3.9% in the third quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker’s stock worth $76,229,000 after purchasing an additional 112,427 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of HP by 23.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker’s stock valued at $545,000 after acquiring an additional 4,054 shares during the period. Wealthfront Advisers LLC boosted its holdings in shares of HP by 8.8% during the third quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock valued at $1,608,000 after acquiring an additional 5,064 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of HP during the fourth quarter valued at $1,758,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of HP by 111.9% during the second quarter. Itau Unibanco Holding S.A. now owns 12,103 shares of the computer maker’s stock valued at $372,000 after acquiring an additional 6,391 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HPQ. Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $31.00 to $35.00 in a report on Tuesday, December 12th. Barclays boosted their price target on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Evercore ISI raised shares of HP from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $33.00 to $40.00 in a report on Monday, December 11th. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.11.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total value of $1,130,500.00. Following the sale, the chief executive officer now directly owns 888,911 shares in the company, valued at $26,445,102.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Enrique Lores sold 38,000 shares of HP stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $29.75, for a total value of $1,130,500.00. Following the transaction, the chief executive officer now owns 888,911 shares of the company’s stock, valued at approximately $26,445,102.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,723 shares of company stock worth $4,609,787. 0.41% of the stock is owned by corporate insiders.

HP Stock Up 0.4 %

Shares of NYSE HPQ opened at $30.12 on Thursday. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90. The firm’s 50-day simple moving average is $29.27 and its 200 day simple moving average is $28.54. The stock has a market cap of $29.54 billion, a P/E ratio of 8.81, a P/E/G ratio of 2.51 and a beta of 1.04.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The firm had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same period in the previous year, the business earned $0.75 earnings per share. HP’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts anticipate that HP Inc. will post 3.41 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be given a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.66%. The ex-dividend date is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 32.16%.

HP Company 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.