HP Inc. (NYSE:HPQ) Stake Reduced by Foundation Resource Management Inc.

Foundation Resource Management Inc. trimmed its stake in HP Inc. (NYSE:HPQ) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 377,423 shares of the computer maker’s stock after selling 2,545 shares during the quarter. HP makes up about 2.1% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 17th largest holding. Foundation Resource Management Inc.’s holdings in HP were worth $12,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LVW Advisors LLC grew its position in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC grew its holdings in HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc increased its position in HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock valued at $191,000 after acquiring an additional 297 shares during the period. King Luther Capital Management Corp raised its stake in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after acquiring an additional 303 shares in the last quarter. Finally, Arvest Investments Inc. boosted its position in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on HPQ. Sanford C. Bernstein upped their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Barclays upped their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup decreased their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.23.

HP Trading Up 0.1 %

HPQ opened at $32.66 on Wednesday. The stock has a market cap of $30.63 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.95 and a beta of 1.05. The stock has a fifty day moving average price of $35.05 and a 200 day moving average price of $35.40. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.54%. This is an increase from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. HP’s dividend payout ratio is presently 40.93%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,250,724.80. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated 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 transaction, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 over the last three months. 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.