CreativeOne Wealth LLC Boosts Stake in HP Inc. (NYSE:HPQ)

CreativeOne Wealth LLC raised its position in shares of HP Inc. (NYSE:HPQ) by 6.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,314 shares of the computer maker’s stock after purchasing an additional 1,498 shares during the quarter. CreativeOne Wealth LLC’s holdings in HP were worth $826,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HPQ. Geode Capital Management LLC grew its holdings in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Pacer Advisors Inc. lifted its position in HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after purchasing an additional 592,391 shares during the last quarter. Invesco Ltd. grew its stake in shares of HP by 7.3% in the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after buying an additional 643,192 shares in the last quarter. Norges Bank bought a new stake in shares of HP in the 4th quarter worth about $229,320,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of HP by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after buying an additional 90,606 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In other HP news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

HP Stock Performance

HP stock opened at $23.77 on Friday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market capitalization of $22.41 billion, a PE ratio of 8.46, a P/E/G ratio of 2.96 and a beta of 1.09. The company has a 50 day moving average price of $28.75 and a 200-day moving average price of $32.82.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. On average, analysts forecast 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 was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.2894 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.87%. HP’s payout ratio is presently 41.37%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HPQ. Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Loop Capital decreased their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. StockNews.com cut shares of HP from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Morgan Stanley lowered their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, HP currently has an average rating of “Hold” and a consensus target price of $34.00.

HP Company 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.