Concurrent Investment Advisors LLC Acquires 1,923 Shares of HP Inc. (NYSE:HPQ)

Concurrent Investment Advisors LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 27.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,814 shares of the computer maker’s stock after buying an additional 1,923 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in HP were worth $288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. King Luther Capital Management Corp boosted its stake in shares of HP by 3.2% in the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the last quarter. Arvest Investments Inc. lifted its holdings in HP by 0.9% in the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares during the period. Avidian Wealth Enterprises LLC boosted its position in HP by 4.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after purchasing an additional 316 shares during the last quarter. Wedmont Private Capital grew its stake in shares of HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after purchasing an additional 316 shares during the period. Finally, Old Port Advisors increased its position in shares of HP by 3.4% during the 3rd quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock valued at $345,000 after purchasing an additional 317 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Trading Down 1.7 %

Shares of NYSE:HPQ opened at $34.08 on Wednesday. The company has a market cap of $31.96 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 2.96 and a beta of 1.05. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The company has a 50-day moving average price of $33.11 and a 200 day moving average price of $34.88.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. As a group, equities analysts forecast that HP Inc. will post 3.56 EPS for the current 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. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.40%. HP’s payout ratio is 40.93%.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of HP 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 completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated 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 owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 in the last three months. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HPQ. HSBC cut shares of HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Barclays lifted their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein upped their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $36.68.

About HP

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.