Frank Rimerman Advisors LLC Purchases 558 Shares of HP Inc. (NYSE:HPQ)

Frank Rimerman Advisors LLC boosted its position in HP Inc. (NYSE:HPQ) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,597 shares of the computer maker’s stock after purchasing an additional 558 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in HP were worth $509,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. King Luther Capital Management Corp grew its stake in shares of HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after acquiring an additional 303 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of HP by 2.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after acquiring an additional 306 shares during the last quarter. Auxano Advisors LLC grew its stake in shares of HP by 3.7% in the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after acquiring an additional 310 shares during the last quarter. Wedmont Private Capital grew its stake in shares of HP by 2.6% in the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after acquiring an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in shares of HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ opened at $28.43 on Monday. The stock has a market capitalization of $26.80 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 2.96 and a beta of 1.09. The stock’s 50-day simple moving average is $32.36 and its two-hundred day simple moving average is $34.41. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80.

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 the consensus estimate of $0.74. The business 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 analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HPQ shares. Sanford C. Bernstein increased their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Barclays increased their price objective on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. TD Cowen dropped their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Finally, Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.14.

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.