Western Wealth Management LLC Cuts Holdings in HP Inc. (NYSE:HPQ)

Western Wealth Management LLC decreased its stake in HP Inc. (NYSE:HPQ) by 31.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,730 shares of the computer maker’s stock after selling 8,262 shares during the quarter. Western Wealth Management LLC’s holdings in HP were worth $579,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HPQ. Synergy Asset Management LLC purchased a new position in HP in the fourth quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in HP during the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP in the 4th quarter worth about $36,000. OFI Invest Asset Management bought a new position in shares of HP during the 4th quarter valued at about $37,000. Finally, CoreCap Advisors LLC increased its position in shares of HP by 71.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock valued at $46,000 after purchasing an additional 587 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

HP Stock Down 1.8%

NYSE:HPQ opened at $27.99 on Friday. The firm has a market capitalization of $26.39 billion, a P/E ratio of 9.96, a P/E/G ratio of 2.96 and a beta of 1.32. The company has a fifty day moving average of $26.15 and a 200 day moving average of $31.05. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

HP (NYSE:HPQ) last released 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 firm had revenue of $13.50 billion for 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%. As a group, analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Wednesday, June 11th. HP’s payout ratio is 41.37%.

Analysts Set New Price Targets

A number of analysts recently weighed in on HPQ shares. Citigroup boosted their target price on HP from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, May 16th. Evercore ISI decreased their price target on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Barclays upped their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on shares of HP from $40.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and a consensus target price of $33.67.

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.