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

Leisure Capital Management decreased its position in shares of HP Inc. (NYSE:HPQ) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,683 shares of the computer maker’s stock after selling 1,088 shares during the quarter. Leisure Capital Management’s holdings in HP were worth $1,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HPQ. Ashton Thomas Securities LLC acquired a new stake in HP in the third quarter valued at $25,000. Synergy Asset Management LLC acquired a new stake in HP in the 4th quarter valued at about $26,000. Wolff Wiese Magana LLC increased its holdings in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in HP during the third quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of HP in the third quarter valued at about $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

NYSE:HPQ opened at $32.51 on Monday. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The business’s 50-day simple moving average is $33.92 and its 200 day simple moving average is $35.11. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. On average, equities research 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. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. HP’s payout ratio is 41.28%.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction on 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 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 three months, insiders sold 273,035 shares of company stock worth $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on HPQ. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Barclays lifted their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.23.

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.