Thurston Springer Miller Herd & Titak Inc. Lowers Holdings in HP Inc. (NYSE:HPQ)

Thurston Springer Miller Herd & Titak Inc. decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,380 shares of the computer maker’s stock after selling 1,085 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in HP were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after buying an additional 160,268 shares during the period. Tidal Investments LLC raised its stake in shares of HP by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares during the period. MML Investors Services LLC lifted its holdings in shares of HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock worth $2,243,000 after acquiring an additional 16,207 shares during the last quarter. Oak Thistle LLC boosted its position in shares of HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after buying an additional 21,805 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in HP by 25.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock valued at $37,712,000 after acquiring an additional 202,613 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Alex Cho sold 40,287 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several recent research reports. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. 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. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. lowered their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.23.

HP Stock Performance

HP stock opened at $32.39 on Friday. The company has a market capitalization of $30.37 billion, a P/E ratio of 11.53, a PEG ratio of 2.83 and a beta of 1.05. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The stock has a 50-day simple moving average of $34.97 and a 200-day simple moving average of $35.38.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting 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 business’s quarterly 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 earnings per share. As a group, analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were paid a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.57%. HP’s payout ratio is 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.