EverSource Wealth Advisors LLC Lowers Position in HP Inc. (NYSE:HPQ)

EverSource Wealth Advisors LLC decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,888 shares of the computer maker’s stock after selling 424 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in HP were worth $160,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC grew its position in HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. increased its stake in HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after acquiring an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in HP by 7.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after purchasing an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 during the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

HPQ opened at $28.91 on Tuesday. The firm has a market capitalization of $27.25 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a one year low of $27.43 and a one year high of $39.80. The business has a 50 day simple moving average of $32.26 and a two-hundred day simple moving average of $34.37.

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

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HPQ shares. Citigroup decreased their price objective 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 lifted their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Barclays increased their target price on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. HSBC downgraded shares of 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 research note on Friday, November 29th. Finally, Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, HP has an average rating of “Hold” and a consensus price target of $36.14.

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.