Adams Asset Advisors LLC Has $6.90 Million Position in HP Inc. (NYSE:HPQ)

Adams Asset Advisors LLC reduced its stake in HP Inc. (NYSE:HPQFree Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,384 shares of the computer maker’s stock after selling 2,034 shares during the period. Adams Asset Advisors LLC’s holdings in HP were worth $6,902,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mascoma Wealth Management LLC acquired a new stake in HP during the 3rd quarter worth approximately $25,000. Certified Advisory Corp acquired a new stake in HP during the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in HP during the 3rd quarter worth approximately $32,000. Jefferies Financial Group Inc. acquired a new stake in HP during the 4th quarter worth approximately $32,000. Finally, Covestor Ltd boosted its position in HP by 84.5% during the 2nd quarter. Covestor Ltd now owns 1,096 shares of the computer maker’s stock worth $33,000 after buying an additional 502 shares during the period. 76.04% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Down 0.1 %

Shares of HPQ stock opened at $30.05 on Friday. The firm has a market capitalization of $29.47 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. The firm has a fifty day simple moving average of $29.25 and a two-hundred day simple moving average of $28.56. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90.

HP (NYSE:HPQGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. On average, equities analysts predict that HP Inc. will post 3.41 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

Analyst Upgrades and Downgrades

Several research firms recently commented on HPQ. Barclays lifted their target price on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Evercore ISI upgraded shares of HP from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $33.00 to $40.00 in a report on Monday, December 11th. Morgan Stanley upgraded shares of HP from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $31.00 to $35.00 in a report on Tuesday, December 12th. Finally, HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.11.

Read Our Latest Research Report on HP

Insider Buying and Selling

In related news, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total value of $1,130,500.00. Following the transaction, the chief executive officer now directly owns 888,911 shares of the company’s stock, valued at approximately $26,445,102.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Enrique Lores sold 38,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total value of $1,130,500.00. Following the sale, the chief executive officer now owns 888,911 shares in the company, valued at $26,445,102.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 154,723 shares of company stock valued at $4,609,787. 0.41% of the stock is owned by insiders.

About HP

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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