Cidel Asset Management Inc. Has $401,000 Stake in HP Inc. (NYSE:HPQ)

Cidel Asset Management Inc. cut its holdings in shares of HP Inc. (NYSE:HPQ) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,291 shares of the computer maker’s stock after selling 787 shares during the quarter. Cidel Asset Management Inc.’s holdings in HP were worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of HP by 1.7% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 108,723 shares of the computer maker’s stock worth $3,548,000 after buying an additional 1,831 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in HP during the fourth quarter worth approximately $639,000. Harbor Island Capital LLC boosted its holdings in shares of HP by 23.4% during the fourth quarter. Harbor Island Capital LLC now owns 353,050 shares of the computer maker’s stock worth $11,520,000 after acquiring an additional 67,052 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its position in shares of HP by 7.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 95,440 shares of the computer maker’s stock valued at $3,114,000 after purchasing an additional 6,290 shares during the last quarter. Finally, Beacon Financial Advisory LLC lifted its holdings in HP by 8.8% during the 4th quarter. Beacon Financial Advisory LLC now owns 24,003 shares of the computer maker’s stock worth $783,000 after purchasing an additional 1,935 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other HP news, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 over the last quarter. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of research reports. JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. HSBC cut shares of 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 research note on Friday, November 29th. Citigroup lowered their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, TD Cowen boosted their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.23.

HP Trading Down 1.0 %

Shares of NYSE HPQ opened at $32.26 on Friday. The stock has a 50-day moving average price of $33.49 and a two-hundred day moving average price of $34.96. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The company has a market cap of $30.25 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.28%.

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.