Strategic Financial Concepts LLC Invests $639,000 in HP Inc. (NYSE:HPQ)

Strategic Financial Concepts LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,571 shares of the computer maker’s stock, valued at approximately $639,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised 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 valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. KBC Group NV raised its holdings in shares of HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of HP during the 4th quarter worth about $65,260,000. Finally, Pacer Advisors Inc. increased its holdings in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after acquiring an additional 1,455,138 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the business’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. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $34.72 on Thursday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company has a market capitalization of $32.56 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The firm has a 50-day simple moving average of $33.10 and a 200-day simple moving average of $34.81.

HP (NYSE:HPQ) last released its 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 for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.28%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HPQ. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Barclays lifted their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, HP currently has an average rating of “Hold” and an average target price of $36.23.

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.