Annex Advisory Services LLC Has $2.45 Million Stock Position in HP Inc. (NYSE:HPQ)

Annex Advisory Services LLC cut its stake in HP Inc. (NYSE:HPQ) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 74,993 shares of the computer maker’s stock after selling 2,836 shares during the quarter. Annex Advisory Services LLC’s holdings in HP were worth $2,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp raised its position in 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 during the last quarter. Geode Capital Management LLC lifted 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 buying an additional 2,477,977 shares in the last quarter. DME Capital Management LP grew its holdings in HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after acquiring an additional 1,757,070 shares during the last quarter. Pacer Advisors Inc. increased its position 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 acquiring an additional 1,455,138 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in shares of HP by 2,649.5% in the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after acquiring an additional 1,270,642 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. TD Cowen lifted their target price 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 lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Barclays lifted their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.23.

Insider Activity

In other news, insider Alex Cho sold 10,298 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, 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 worth $9,670,068 over the last three months. Corporate insiders own 0.41% of the company’s stock.

HP Trading Up 0.6 %

HPQ stock opened at $32.53 on Monday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a market cap of $30.51 billion, a PE ratio of 11.58, a P/E/G ratio of 2.83 and a beta of 1.05. The business’s 50-day moving average price is $34.78 and its two-hundred day moving average price is $35.35.

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, meeting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same period in the previous year, the firm earned $0.90 EPS. HP’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a $0.2894 dividend. This is an increase from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. HP’s dividend payout ratio (DPR) is currently 40.93%.

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.