Stifel Financial Corp Reduces Holdings in HP Inc. (NYSE:HPQ)

Stifel Financial Corp lowered its position in HP Inc. (NYSE:HPQ) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 378,315 shares of the computer maker’s stock after selling 5,715 shares during the quarter. Stifel Financial Corp’s holdings in HP were worth $12,344,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HPQ. Synergy Asset Management LLC purchased a new position in shares of HP in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of HP during the fourth quarter worth $31,000. OFI Invest Asset Management bought a new position in shares of HP in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of HP in the fourth quarter valued at $50,000. Finally, Summit Securities Group LLC bought a new stake in shares of HP during the 4th quarter valued at $55,000. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

Shares of HPQ opened at $23.77 on Friday. The firm has a market cap of $22.41 billion, a P/E ratio of 8.46, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The stock has a 50 day simple moving average of $28.56 and a two-hundred day simple moving average of $32.74.

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

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date was Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Sanford C. Bernstein boosted 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. Loop Capital lowered their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on shares of HP from $40.00 to $29.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $34.00.

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.