Kingsview Wealth Management LLC Sells 412 Shares of HP Inc. (NYSE:HPQ)

Kingsview Wealth Management LLC cut its holdings in HP Inc. (NYSE:HPQ) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,365 shares of the computer maker’s stock after selling 412 shares during the period. Kingsview Wealth Management LLC’s holdings in HP were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of HP during the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC acquired a new stake in shares of HP in the 4th quarter valued at about $26,000. Itau Unibanco Holding S.A. acquired a new position in HP during the third quarter worth $40,000. RPg Family Wealth Advisory LLC bought a new position in shares of HP in the third quarter valued at $44,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of HP during the third quarter valued at about $63,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Price Performance

Shares of HPQ opened at $33.69 on Friday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock’s fifty day moving average price is $33.17 and its two-hundred day moving average price is $34.83. The firm has a market cap of $31.59 billion, a PE ratio of 11.99, a PEG ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last 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 fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued 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 yield of 3.44%. HP’s dividend payout ratio (DPR) is 41.28%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of analyst reports. Citigroup cut 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. TD Cowen lifted their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, JPMorgan Chase & Co. decreased their price objective 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. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.23.

Insiders Place Their Bets

In related news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated 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 owns 6,277 shares in the company, valued at $204,002.50. This 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 quarter. 0.41% of the stock is 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.