EverSource Wealth Advisors LLC Trims Holdings in HP Inc. (NYSE:HPQ)

EverSource Wealth Advisors LLC lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,888 shares of the computer maker’s stock after selling 424 shares during the period. EverSource Wealth Advisors LLC’s holdings in HP were worth $160,000 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 the business. Amundi grew its stake in shares of HP by 15.9% in the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after buying an additional 899,349 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares during the last quarter. Oak Thistle LLC increased its holdings in shares of HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock valued at $1,132,000 after acquiring an additional 21,805 shares in the last quarter. Tidal Investments LLC raised its position in shares of HP by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after purchasing an additional 47,230 shares during the last quarter. Finally, MML Investors Services LLC boosted its stake in HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock worth $2,243,000 after purchasing an additional 16,207 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ opened at $28.91 on Tuesday. The stock’s 50-day simple moving average is $32.26 and its two-hundred day simple moving average is $34.37. The stock has a market capitalization of $27.25 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 4.00%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling at HP

In related 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 directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. TD Cowen cut their target price on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Loop Capital decreased their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley dropped their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, HP presently has a consensus rating of “Hold” and a consensus price target of $36.14.

HP Profile

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.