SVB Wealth LLC Makes New Investment in HP Inc. (NYSE:HPQ)

SVB Wealth LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,298 shares of the computer maker’s stock, valued at approximately $989,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HPQ. State Street Corp increased its holdings in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC increased its holdings in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV grew its position in shares of HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after acquiring an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of HP in the 4th quarter worth approximately $65,260,000. Finally, Pacer Advisors Inc. grew its position in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now directly owns 56,169 shares in the company, valued at $1,933,898.67. The trade was a 56.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock valued at $9,316,641 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

HP Price Performance

NYSE:HPQ opened at $30.03 on Tuesday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The firm has a market capitalization of $28.32 billion, a P/E ratio of 10.69, a P/E/G ratio of 2.96 and a beta of 1.05. The business has a 50 day simple moving average of $33.04 and a 200 day simple moving average of $34.80.

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

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HPQ. Barclays lifted their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Morgan Stanley decreased their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, HP has a consensus rating of “Hold” and a consensus target price of $36.59.

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.