HP Inc. (NYSE:HPQ) Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its position in shares of HP Inc. (NYSE:HPQ) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 137,278 shares of the computer maker’s stock after purchasing an additional 5,009 shares during the period. Assetmark Inc.’s holdings in HP were worth $4,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cookson Peirce & Co. Inc. increased its position in shares of HP by 7.1% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 25,446 shares of the computer maker’s stock worth $830,000 after purchasing an additional 1,687 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of HP by 18.5% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 138,272 shares of the computer maker’s stock worth $4,512,000 after purchasing an additional 21,613 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of HP by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock worth $222,985,000 after purchasing an additional 90,606 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of HP by 1.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 28,281 shares of the computer maker’s stock worth $923,000 after buying an additional 354 shares during the last quarter. Finally, Auxano Advisors LLC grew its holdings in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Up 2.0 %

HPQ stock opened at $30.56 on Friday. The firm has a 50 day moving average of $32.76 and a 200-day moving average of $34.65. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The company has a market cap of $28.80 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. Sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.79%. HP’s payout ratio is 41.37%.

Insider Activity

In related news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,933,898.67. The trade was a 56.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 262,737 shares of company stock worth $9,316,641. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HPQ shares. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.14.

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.