Corient Private Wealth LLC Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Corient Private Wealth LLC reduced its position in shares of HP Inc. (NYSE:HPQ) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 330,677 shares of the computer maker’s stock after selling 75,027 shares during the period. Corient Private Wealth LLC’s holdings in HP were worth $10,790,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in HP in the fourth quarter valued at about $31,000. Itau Unibanco Holding S.A. purchased a new position in HP in the third quarter valued at about $40,000. OFI Invest Asset Management purchased a new position in HP in the fourth quarter valued at about $37,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in HP in the third quarter valued at about $44,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Sanford C. Bernstein increased their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Citigroup dropped their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays increased their price target on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling at HP

In other HP news, 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 value of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.

HP Stock Performance

Shares of NYSE HPQ opened at $28.76 on Thursday. HP Inc. has a 1 year low of $27.43 and a 1 year high of $39.80. The firm’s 50 day moving average price is $32.07 and its 200 day moving average price is $34.28. The firm has a market cap of $27.11 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

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, hitting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. As a group, equities analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.03%. HP’s dividend payout ratio (DPR) is presently 41.37%.

HP Company 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.