HP Inc. (NYSE:HPQ) Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC lowered its stake in HP Inc. (NYSE:HPQ) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,595 shares of the computer maker’s stock after selling 756 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in HP were worth $1,879,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp lifted its position in shares of HP by 8.2% during the third 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of HP by 11.1% during the third 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 in the last quarter. KBC Group NV lifted its position in shares of HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of HP by 2,649.5% during the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after purchasing an additional 1,270,642 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, 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 transaction, the insider now directly owns 56,169 shares in the company, valued at $1,933,898.67. This trade represents a 56.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of HP 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 completion of the transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

HP Stock Up 1.7 %

Shares of HP stock opened at $32.83 on Tuesday. The firm has a market capitalization of $30.79 billion, a P/E ratio of 11.68, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The firm’s 50 day moving average is $33.49 and its two-hundred day moving average is $34.92.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (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 company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. As a group, research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. HP’s dividend payout ratio (DPR) is presently 41.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup reduced their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Finally, TD Cowen raised their target price on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.23.

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.