Spire Wealth Management Raises Stock Holdings in HP Inc. (NYSE:HPQ)

Spire Wealth Management raised its position in shares of HP Inc. (NYSE:HPQ) by 4,264.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,468 shares of the computer maker’s stock after buying an additional 140,181 shares during the period. Spire Wealth Management’s holdings in HP were worth $4,681,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HPQ. DAVENPORT & Co LLC lifted its stake in HP by 34.0% in the fourth quarter. DAVENPORT & Co LLC now owns 2,394,375 shares of the computer maker’s stock worth $78,128,000 after acquiring an additional 607,893 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of HP by 4.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,016 shares of the computer maker’s stock worth $947,000 after purchasing an additional 1,302 shares during the period. Inlet Private Wealth LLC boosted its stake in shares of HP by 11.0% during the 4th quarter. Inlet Private Wealth LLC now owns 60,400 shares of the computer maker’s stock valued at $1,971,000 after purchasing an additional 6,000 shares in the last quarter. GFS Advisors LLC purchased a new position in shares of HP during the fourth quarter valued at about $221,000. Finally, Caprock Group LLC raised its stake in HP by 1.8% in the fourth quarter. Caprock Group LLC now owns 148,683 shares of the computer maker’s stock worth $4,895,000 after buying an additional 2,642 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

HPQ opened at $32.51 on Monday. The company’s 50-day simple moving average is $33.92 and its two-hundred day simple moving average is $35.13. The stock has a market capitalization of $30.48 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. 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 business earned $0.90 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 41.28%.

Insider Buying and Selling at HP

In related news, insider Alex Cho sold 10,298 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock valued at $9,670,068. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on HPQ shares. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen boosted their target price on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Sanford C. Bernstein increased their price target 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. Finally, Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, HP presently has an average rating of “Hold” and a consensus price target of $36.23.

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.