Congress Wealth Management LLC DE Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Congress Wealth Management LLC DE increased its position in HP Inc. (NYSE:HPQ) by 10.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,770 shares of the computer maker’s stock after acquiring an additional 1,199 shares during the quarter. Congress Wealth Management LLC DE’s holdings in HP were worth $417,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HPQ. State Street Corp boosted its stake in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares during the period. Geode Capital Management LLC boosted its position in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after acquiring an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after purchasing an additional 592,391 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of HP by 7.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after purchasing an additional 612,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in HP by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after purchasing an additional 90,606 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HP stock opened at $27.90 on Friday. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The company’s 50 day moving average price is $31.48 and its 200-day moving average price is $33.98. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 9.93, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last announced its quarterly 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. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed 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. This represents a $1.16 annualized dividend and a yield of 4.15%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

Insider Transactions at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,191 shares of company stock worth $1,425,051. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on HPQ. Barclays boosted their price target on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Loop Capital reduced their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. HSBC cut HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.