Clear Creek Financial Management LLC Reduces Position in HP Inc. (NYSE:HPQ)

Clear Creek Financial Management LLC reduced its position in shares of HP Inc. (NYSE:HPQ) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,420 shares of the computer maker’s stock after selling 1,029 shares during the period. Clear Creek Financial Management LLC’s holdings in HP were worth $536,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of HP during the 2nd quarter worth about $269,000. Northwestern Mutual Wealth Management Co. lifted its stake in HP by 9.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock worth $1,454,000 after purchasing an additional 3,722 shares during the last quarter. Truist Financial Corp boosted its holdings in HP by 4.5% in the second quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock valued at $6,181,000 after purchasing an additional 7,678 shares in the last quarter. Cetera Investment Advisers increased its stake in HP by 14.5% in the second quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock valued at $4,391,000 after purchasing an additional 15,905 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of HP during the 2nd quarter worth approximately $3,373,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of a number of recent analyst reports. Sanford C. Bernstein increased their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, HP presently has an average rating of “Hold” and an average price target of $36.23.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by company insiders.

HP Trading Down 0.9 %

NYSE HPQ opened at $32.51 on Monday. The stock has a market capitalization of $30.48 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.78 and a beta of 1.05. The business’s 50 day moving average is $33.92 and its two-hundred day moving average is $35.13. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. HP’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.90 earnings per share. Equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business 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 dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.28%.

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.