Bristlecone Advisors LLC Purchases New Shares in HP Inc. (NYSE:HPQ)

Bristlecone Advisors LLC purchased a new stake in HP Inc. (NYSE:HPQ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 9,921 shares of the computer maker’s stock, valued at approximately $324,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of HP in the 3rd quarter valued at $25,000. Synergy Asset Management LLC purchased a new position in HP during the 4th quarter valued at about $26,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in HP during the 3rd quarter valued at about $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in HP during the 3rd quarter valued at about $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 1.7 %

Shares of HP stock opened at $32.83 on Tuesday. The stock has a market capitalization of $30.79 billion, a P/E ratio of 11.68, a PEG ratio of 2.78 and a beta of 1.05. The stock has a 50 day moving average price of $33.49 and a two-hundred day moving average price of $34.92. HP Inc. has a 12-month low of $27.42 and a 12-month 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 (EPS) for the quarter, hitting analysts’ consensus estimates 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%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.53%. HP’s dividend payout ratio (DPR) is presently 41.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HPQ shares. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Barclays boosted their price target on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Citigroup lowered their price target 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 Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.23.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction 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 transaction, 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 worth $9,670,068 over the last three months. 0.41% of the stock is currently owned by insiders.

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.