HP Inc. (NYSE:HPQ) Shares Sold by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. reduced its stake in shares of HP Inc. (NYSE:HPQ) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,612 shares of the computer maker’s stock after selling 517 shares during the quarter. Great Lakes Retirement Inc.’s holdings in HP were worth $1,501,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new stake in HP in the 3rd quarter valued at about $25,000. Synergy Asset Management LLC acquired a new stake in HP during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in HP during the fourth quarter worth approximately $31,000. Wolff Wiese Magana LLC grew its position in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of HP during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated 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 directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by corporate insiders.

HP Trading Up 1.0 %

Shares of NYSE:HPQ opened at $33.14 on Wednesday. The firm has a market capitalization of $31.07 billion, a PE ratio of 11.79, a PEG ratio of 2.78 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The business’s 50 day moving average is $33.42 and its 200-day moving average is $34.90.

HP (NYSE:HPQ) last released 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. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HPQ. Barclays boosted their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, Sanford C. Bernstein upped 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.23.

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.