KMG Fiduciary Partners LLC Invests $1.63 Million in HP Inc. (NYSE:HPQ)

KMG Fiduciary Partners LLC acquired a new stake in HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 50,044 shares of the computer maker’s stock, valued at approximately $1,633,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC increased its position in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. lifted its stake in HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing an additional 1,455,138 shares during the last quarter. Legal & General Group Plc boosted its position in HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after buying an additional 1,089,848 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of HP by 7.7% during 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 buying an additional 612,675 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Price Performance

NYSE HPQ opened at $32.53 on Friday. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The business has a 50 day simple moving average of $34.87 and a 200 day simple moving average of $35.36. The stock has a market capitalization of $30.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.83 and a beta of 1.05.

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

HP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.56%. HP’s dividend payout ratio (DPR) is currently 41.28%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of research reports. TD Cowen increased their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, September 27th. Sanford C. Bernstein boosted 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. Barclays upped 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, JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.23.

Insider Activity at HP

In other HP news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale 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 company’s stock in a transaction on 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 273,035 shares of company stock valued at $9,670,068 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.