D.A. Davidson & CO. Increases Stock Holdings in HP Inc. (NYSE:HPQ)

D.A. Davidson & CO. increased its holdings in HP Inc. (NYSE:HPQ) by 13.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,001 shares of the computer maker’s stock after acquiring an additional 1,509 shares during the quarter. D.A. Davidson & CO.’s holdings in HP were worth $424,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. King Luther Capital Management Corp lifted its position in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after buying an additional 303 shares during the period. Arvest Investments Inc. lifted its position in HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after buying an additional 310 shares during the period. Avidian Wealth Enterprises LLC lifted its position in HP by 4.3% during the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after buying an additional 316 shares during the period. Wedmont Private Capital lifted its position in HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after buying an additional 316 shares during the period. Finally, Old Port Advisors lifted its position in HP by 3.4% during the third quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock valued at $345,000 after buying an additional 317 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HPQ. Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. TD Cowen raised their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted 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. Finally, Barclays lifted their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.68.

HP Stock Performance

NYSE HPQ opened at $34.08 on Wednesday. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The stock has a 50-day moving average of $33.11 and a 200 day moving average of $34.88. The company has a market capitalization 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 (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. On average, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid 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 dividend yield of 3.40%. HP’s dividend payout ratio is currently 40.93%.

Insider Buying and Selling at HP

In related news, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % 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 in the last three months. 0.41% of the stock is currently owned by company 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.