44 Wealth Management LLC Has $1.70 Million Stock Holdings in HP Inc. (NYSE:HPQ)

44 Wealth Management LLC reduced its holdings in HP Inc. (NYSE:HPQ) by 8.3% in the 4th quarter, HoldingsChannel reports. The fund owned 52,171 shares of the computer maker’s stock after selling 4,706 shares during the period. 44 Wealth Management LLC’s holdings in HP were worth $1,702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in 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 purchasing an additional 160,268 shares during the period. Oak Thistle LLC boosted its position 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 buying an additional 21,805 shares during the last quarter. Tidal Investments LLC boosted its position in shares of HP by 47.5% during the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after buying an additional 47,230 shares during the last quarter. MML Investors Services LLC boosted its position in shares of HP by 35.0% during the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after buying an additional 16,207 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of HP by 4.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock valued at $14,581,000 after buying an additional 18,557 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the sale, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % 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 valued at $9,670,068. 0.41% of the stock is owned by insiders.

HP Price Performance

HP stock opened at $34.63 on Friday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock has a market capitalization of $32.48 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The firm has a 50 day simple moving average of $33.10 and a 200-day simple moving average of $34.83.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations 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 was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. On average, analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.34%. HP’s payout ratio is currently 41.28%.

Analyst Ratings Changes

A number of research analysts have weighed in on HPQ shares. HSBC cut shares of HP from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Barclays upped their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday. Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, TD Cowen lifted 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. Based on data from MarketBeat.com, HP currently has an average rating of “Hold” and a consensus target price of $36.68.

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.