Foster & Motley Inc. Has $7.52 Million Stake in HP Inc. (NYSE:HPQ)

Foster & Motley Inc. boosted its holdings in HP Inc. (NYSE:HPQ) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 230,564 shares of the computer maker’s stock after buying an additional 2,450 shares during the period. Foster & Motley Inc.’s holdings in HP were worth $7,523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HPQ. Public Sector Pension Investment Board boosted its position in shares of HP by 78.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 17,978 shares of the computer maker’s stock worth $630,000 after purchasing an additional 7,931 shares during the last quarter. Marshall Wace LLP bought a new position in HP during the second quarter worth about $269,000. The Manufacturers Life Insurance Company grew its position in shares of HP by 2.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 724,295 shares of the computer maker’s stock worth $25,365,000 after buying an additional 19,342 shares during the period. Creative Planning grew its position in shares of HP by 6.3% during the 2nd quarter. Creative Planning now owns 213,889 shares of the computer maker’s stock worth $7,490,000 after buying an additional 12,745 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of HP by 9.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock valued at $1,454,000 after acquiring an additional 3,722 shares during the period. 77.53% of the stock is owned by institutional investors.

HP Stock Performance

NYSE HPQ opened at $32.64 on Thursday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The stock’s 50 day moving average price is $34.22 and its two-hundred day moving average price is $35.22. The stock has a market capitalization of $30.61 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 2.83 and a beta of 1.05.

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

HP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a $0.2894 dividend. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.55%. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s payout ratio is currently 41.28%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. TD Cowen upped their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Citigroup decreased their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.23.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,035 shares of company stock worth $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.