HP Inc. (NYSE:HPQ) Shares Sold by abrdn plc

abrdn plc decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 4.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,347,244 shares of the computer maker’s stock after selling 64,981 shares during the period. abrdn plc’s holdings in HP were worth $43,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in HP during the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC acquired a new position in HP during the 4th quarter worth approximately $26,000. Wolff Wiese Magana LLC increased its position in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HPQ shares. Barclays boosted their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. TD Cowen boosted their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Citigroup decreased their price target 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 lowered HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.23.

HP Stock Up 1.7 %

Shares of HP stock opened at $32.55 on Thursday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The firm has a market cap of $30.53 billion, a PE ratio of 11.58, a P/E/G ratio of 2.77 and a beta of 1.05. The business’s fifty day moving average is $33.64 and its two-hundred day moving average is $35.04.

HP (NYSE:HPQ) last issued its quarterly 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. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is presently 40.93%.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock worth $9,670,068 in the last ninety days. Insiders own 0.41% of the company’s stock.

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.