Larson Financial Group LLC Cuts Holdings in HP Inc. (NYSE:HPQ)

Larson Financial Group LLC trimmed its holdings in shares of HP Inc. (NYSE:HPQ) by 39.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,742 shares of the computer maker’s stock after selling 4,313 shares during the period. Larson Financial Group LLC’s holdings in HP were worth $220,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HPQ. Van ECK Associates Corp raised its stake in shares of HP by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 37,550 shares of the computer maker’s stock worth $1,346,000 after buying an additional 2,139 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of HP during the 3rd quarter worth approximately $247,000. Assetmark Inc. raised its stake in shares of HP by 40.8% during the 3rd quarter. Assetmark Inc. now owns 132,269 shares of the computer maker’s stock worth $4,745,000 after buying an additional 38,331 shares in the last quarter. Atria Investments Inc raised its stake in shares of HP by 8.2% during the 3rd quarter. Atria Investments Inc now owns 61,848 shares of the computer maker’s stock worth $2,218,000 after buying an additional 4,712 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of HP during the 3rd quarter worth approximately $244,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other news, insider Kristen M. Ludgate sold 74,356 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the sale, the insider now owns 56,169 shares in the company, valued at $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HPQ shares. TD Cowen cut their target price on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a research note on Monday. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.14.

HP Stock Performance

Shares of NYSE:HPQ opened at $28.66 on Wednesday. The business’s fifty day moving average price is $32.63 and its two-hundred day moving average price is $34.56. The stock has a market cap of $27.01 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a one year low of $27.43 and a one year high of $39.80.

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

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.37%.

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.