Wingate Wealth Advisors Inc. Makes New Investment in HP Inc. (NYSE:HPQ)

Wingate Wealth Advisors Inc. purchased a new position in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,538 shares of the computer maker’s stock, valued at approximately $50,000.

A number of other large investors also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its stake in HP by 3.1% during the fourth quarter. Savant Capital LLC now owns 40,380 shares of the computer maker’s stock worth $1,318,000 after purchasing an additional 1,230 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in HP by 54.8% during the fourth quarter. Angeles Wealth Management LLC now owns 10,268 shares of the computer maker’s stock worth $335,000 after purchasing an additional 3,637 shares in the last quarter. Stephens Inc. AR raised its stake in shares of HP by 1,314.6% in the fourth quarter. Stephens Inc. AR now owns 226,255 shares of the computer maker’s stock valued at $7,383,000 after acquiring an additional 210,261 shares in the last quarter. Empirical Finance LLC raised its stake in shares of HP by 27.7% in the fourth quarter. Empirical Finance LLC now owns 68,057 shares of the computer maker’s stock valued at $2,221,000 after acquiring an additional 14,778 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of HP by 158.9% in the fourth quarter. Empowered Funds LLC now owns 355,040 shares of the computer maker’s stock valued at $11,585,000 after acquiring an additional 217,910 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Performance

Shares of HPQ stock opened at $32.83 on Tuesday. The stock’s 50-day moving average is $33.49 and its two-hundred day moving average is $34.92. The firm has a market cap of $30.79 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 2.78 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, research analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

Analyst Upgrades and Downgrades

HPQ has been the topic of several analyst reports. HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $38.00 in a research note 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. TD Cowen increased their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays increased their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.23.

Insider Buying and Selling

In related news, insider Kristen M. Ludgate sold 74,356 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last quarter. 0.41% of the stock is currently owned by insiders.

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.