Montgomery Investment Management Inc. Sells 700 Shares of HP Inc. (NYSE:HPQ)

Montgomery Investment Management Inc. cut its position in shares of HP Inc. (NYSE:HPQ) by 1.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,770 shares of the computer maker’s stock after selling 700 shares during the quarter. Montgomery Investment Management Inc.’s holdings in HP were worth $2,016,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HPQ. LVW Advisors LLC boosted its holdings in HP by 1.2% during the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after acquiring an additional 278 shares during the period. Castleview Partners LLC boosted its holdings in HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares during the period. Versant Capital Management Inc boosted its holdings in HP by 5.9% during 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 boosted its holdings 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 during the period. Finally, Arvest Investments Inc. boosted its holdings in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

HPQ stock opened at $32.02 on Wednesday. The company has a market cap of $30.03 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock’s fifty day moving average price is $33.78 and its 200-day moving average price is $35.07.

HP (NYSE:HPQ) last released its quarterly 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 firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. As a group, analysts expect that HP Inc. will post 3.56 earnings per share for the current 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 3.61%. HP’s dividend payout ratio (DPR) is presently 41.28%.

Insider Activity at HP

In other news, insider Alex Cho sold 40,287 shares of HP stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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. Over the last three months, insiders have sold 273,035 shares of company stock worth $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Sanford C. Bernstein increased their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.00 in a report 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.23.

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.