Wealthfront Advisers LLC Buys 186,386 Shares of HP Inc. (NYSE:HPQ)

Wealthfront Advisers LLC lifted its stake in HP Inc. (NYSE:HPQ) by 423.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,391 shares of the computer maker’s stock after purchasing an additional 186,386 shares during the period. Wealthfront Advisers LLC’s holdings in HP were worth $7,518,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of HP in the third quarter worth about $25,000. Synergy Asset Management LLC purchased a new stake in HP in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in HP in the fourth quarter worth about $31,000. OFI Invest Asset Management purchased a new stake in HP in the fourth quarter worth about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in HP in the third quarter worth about $40,000. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen M. Ludgate sold 74,356 shares of the firm’s 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 sale, 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 disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HPQ shares. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $36.14.

HP Trading Down 0.4 %

Shares of NYSE:HPQ opened at $28.51 on Thursday. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The company’s 50 day moving average is $32.54 and its 200 day moving average is $34.52. The company has a market cap of $26.87 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.35 billion. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.06%. HP’s dividend payout ratio (DPR) is presently 41.37%.

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.