Peddock Capital Advisors LLC Sells 1,066 Shares of HP Inc. (NYSE:HPQ)

Peddock Capital Advisors LLC lowered its stake in HP Inc. (NYSE:HPQ) by 2.4% during the fourth quarter, Holdings Channel reports. The firm owned 43,004 shares of the computer maker’s stock after selling 1,066 shares during the period. Peddock Capital Advisors LLC’s holdings in HP were worth $1,403,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HPQ. Ashton Thomas Securities LLC bought a new position in HP in the 3rd quarter valued at about $25,000. Wolff Wiese Magana LLC raised its position in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of HP in the 3rd quarter valued at $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the 3rd quarter worth $40,000. Finally, DecisionPoint Financial LLC bought a new stake in shares of HP during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Down 1.7 %

HPQ stock traded down $0.57 during midday trading on Monday, hitting $32.63. The stock had a trading volume of 7,062,374 shares, compared to its average volume of 5,912,863. The business has a fifty day moving average price of $35.20 and a two-hundred day moving average price of $35.43. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a market cap of $30.60 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 earnings per share. On average, equities analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.55%. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is presently 40.93%.

Wall Street Analyst Weigh In

Several brokerages have commented on HPQ. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Barclays boosted their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup cut their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.23.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the company’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 of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% of the company’s stock.

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.