HP Inc. (NYSE:HPQ) Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC reduced its position in HP Inc. (NYSE:HPQ) by 7.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,844 shares of the computer maker’s stock after selling 2,079 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in HP were worth $963,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HPQ. State Street Corp increased its position in HP by 8.2% during 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 buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares during the last quarter. DME Capital Management LP increased its holdings in shares of HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after acquiring an additional 1,757,070 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of 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. Finally, Bridgewater Associates LP boosted its stake in HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after purchasing an additional 1,270,642 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Trading Up 0.6 %

NYSE HPQ opened at $33.33 on Friday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The stock has a 50-day moving average of $34.53 and a 200 day moving average of $35.31. The stock has a market capitalization of $31.26 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 2.81 and a beta of 1.05.

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 negative return on equity of 253.39% and a net margin of 5.18%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Equities analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.47%. The ex-dividend date was Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is 40.93%.

Insider Activity at HP

In related news, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction on 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 sale, the insider now directly owns 56,169 shares in the company, valued at approximately $1,933,898.67. This trade represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HPQ. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. TD Cowen upped their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reduced their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted 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. Finally, Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.23.

HP 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.