Jacobi Capital Management LLC Reduces Stock Position in HP Inc. (NYSE:HPQ)

Jacobi Capital Management LLC trimmed its holdings in HP Inc. (NYSE:HPQ) by 9.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 47,102 shares of the computer maker’s stock after selling 5,015 shares during the period. Jacobi Capital Management LLC’s holdings in HP were worth $1,537,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HPQ. King Luther Capital Management Corp boosted its position in shares of HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the period. Arvest Investments Inc. raised its stake in HP by 0.9% in the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after buying an additional 310 shares in the last quarter. Avidian Wealth Enterprises LLC raised its stake in HP by 4.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after buying an additional 316 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after purchasing an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after purchasing an additional 319 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of research reports. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Morgan Stanley reduced their target price on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.59.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the business’s 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 transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 262,737 shares of company stock valued at $9,316,641 in the last quarter. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

HP stock opened at $30.75 on Friday. The firm has a market cap of $28.83 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 2.96 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 firm’s 50 day moving average price is $33.11 and its two-hundred day moving average price is $34.84.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 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 during 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 fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 40.93%.

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.