Sequoia Financial Advisors LLC Grows Stake in HP Inc. (NYSE:HPQ)

Sequoia Financial Advisors LLC lifted its position in HP Inc. (NYSE:HPQ) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,128 shares of the computer maker’s stock after buying an additional 1,715 shares during the period. Sequoia Financial Advisors LLC’s holdings in HP were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. State Street Corp lifted its position in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its position in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. KBC Group NV lifted its position in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in HP during the fourth quarter valued at $65,260,000. Finally, Pacer Advisors Inc. lifted its position in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing 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, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HPQ shares. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Barclays raised their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. StockNews.com cut HP from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.14.

HP Trading Up 1.8 %

Shares of HPQ stock opened at $28.43 on Monday. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80. The stock’s 50-day moving average price is $32.36 and its 200-day moving average price is $34.41. The stock has a market capitalization of $26.80 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

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 given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.07%. HP’s dividend payout ratio (DPR) is presently 41.37%.

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.