Wedmont Private Capital Lowers Stock Position in HP Inc. (NYSE:HPQ)

Wedmont Private Capital reduced its stake in shares of HP Inc. (NYSE:HPQ) by 15.2% in the first quarter, HoldingsChannel.com reports. The fund owned 10,727 shares of the computer maker’s stock after selling 1,921 shares during the quarter. Wedmont Private Capital’s holdings in HP were worth $297,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in HP during the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of HP during the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new position in shares of HP during the fourth quarter valued at about $37,000. CoreCap Advisors LLC increased its holdings in shares of HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock worth $46,000 after buying an additional 587 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of HP in the 4th quarter valued at about $55,000. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

HP Stock Performance

Shares of NYSE:HPQ opened at $24.83 on Thursday. The firm has a market capitalization of $23.32 billion, a P/E ratio of 8.84, a P/E/G ratio of 2.96 and a beta of 1.30. The stock has a 50 day moving average price of $25.66 and a 200-day moving average price of $30.03. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.16 annualized dividend and a dividend yield of 4.66%. HP’s payout ratio is presently 44.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price target on HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 29th. Wells Fargo & Company cut their price target on shares of HP from $35.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, May 29th. UBS Group dropped their target price on shares of HP from $37.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Finally, Citigroup dropped their price objective on HP from $29.00 to $27.50 and set a “neutral” rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, HP has an average rating of “Hold” and a consensus price target of $29.54.

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.