Bristlecone Advisors LLC Acquires Shares of 9,921 HP Inc. (NYSE:HPQ)

Bristlecone Advisors LLC acquired a new stake in HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,921 shares of the computer maker’s stock, valued at approximately $324,000.

Several other large investors also recently bought and sold shares of the company. State Street Corp grew its position in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after buying an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after buying an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after buying an additional 612,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock worth $241,876,000 after purchasing an additional 678,985 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $32.83 on Tuesday. The firm has a market capitalization of $30.79 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The stock’s fifty day moving average is $33.49 and its 200-day moving average is $34.92.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting 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 negative return on equity of 253.39% and a net margin of 5.18%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.90 earnings per share. Analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.28%.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last three months. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HPQ shares. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Barclays raised their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.