16,235 Shares in HP Inc. (NYSE:HPQ) Bought by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. bought a new position in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,235 shares of the computer maker’s stock, valued at approximately $530,000.

A number of other hedge funds have also bought and sold shares of HPQ. Ashton Thomas Securities LLC bought a new position in HP during the third quarter worth $25,000. Wolff Wiese Magana LLC raised its stake in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in HP in the third quarter valued at $37,000. Itau Unibanco Holding S.A. bought a new stake in HP in the third quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP in the third quarter valued at $44,000. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HPQ shares. TD Cowen lifted their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein lifted their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Finally, Barclays lifted their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. One equities research 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.23.

HP Price Performance

Shares of NYSE HPQ opened at $32.53 on Tuesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock has a market capitalization of $30.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 2.83 and a beta of 1.05. The company has a 50-day moving average price of $34.78 and a 200-day moving average price of $35.35.

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

HP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.56%. HP’s payout ratio is 41.28%.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated 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 in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by insiders.

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.