Tacita Capital Inc Cuts Holdings in HP Inc. (NYSE:HPQ)

Tacita Capital Inc reduced its position in HP Inc. (NYSE:HPQ) by 47.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,065 shares of the computer maker’s stock after selling 950 shares during the quarter. Tacita Capital Inc’s holdings in HP were worth $35,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter worth $25,000. Synergy Asset Management LLC purchased a new position in shares of HP in the 4th quarter worth $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP in the 4th quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP in the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of HP in the 3rd quarter worth $44,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HPQ shares. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley cut their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday. Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Finally, HSBC lowered HP from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, HP presently has an average rating of “Hold” and an average target price of $36.59.

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 value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 completion of the transaction, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 262,737 shares of company stock worth $9,316,641. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $30.03 on Tuesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The firm has a market cap of $28.32 billion, a price-to-earnings ratio of 10.69, a PEG ratio of 2.96 and a beta of 1.05. The stock’s 50-day simple moving average is $33.04 and its 200-day simple moving average is $34.80.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. As a group, research analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.2894 dividend. 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 3.85%. HP’s dividend payout ratio (DPR) is 41.37%.

About HP

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.