Sigma Investment Counselors Inc. Has $1.70 Million Stake in HP Inc. (NYSE:HPQ)

Sigma Investment Counselors Inc. lowered its stake in shares of HP Inc. (NYSE:HPQ) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,200 shares of the computer maker’s stock after selling 1,309 shares during the period. Sigma Investment Counselors Inc.’s holdings in HP were worth $1,703,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HPQ. Foundations Investment Advisors LLC boosted its stake in HP by 26.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 9,038 shares of the computer maker’s stock valued at $324,000 after purchasing an additional 1,884 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in HP by 3.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 23,413 shares of the computer maker’s stock valued at $840,000 after purchasing an additional 832 shares during the last quarter. International Assets Investment Management LLC boosted its stake in HP by 2,201.9% during the 3rd quarter. International Assets Investment Management LLC now owns 107,820 shares of the computer maker’s stock valued at $38,680,000 after purchasing an additional 103,136 shares during the last quarter. Grimes & Company Inc. purchased a new position in shares of HP in the 3rd quarter worth approximately $205,000. Finally, IFM Investors Pty Ltd boosted its stake in shares of HP by 0.8% in the 3rd quarter. IFM Investors Pty Ltd now owns 214,297 shares of the computer maker’s stock worth $7,687,000 after buying an additional 1,735 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Sanford C. Bernstein boosted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company boosted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, HP currently has an average rating of “Hold” and a consensus target price of $36.68.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction 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 represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction on 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 approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock valued at $9,670,068 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

Shares of HPQ stock opened at $34.63 on Friday. The company’s fifty day simple moving average is $33.10 and its two-hundred day simple moving average is $34.84. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock has a market capitalization of $32.48 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.96 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the previous year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.34%. HP’s payout ratio is 40.93%.

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.