Lake Street Advisors Group LLC Purchases 61,433 Shares of HP Inc. (NYSE:HPQ)

Lake Street Advisors Group LLC increased its position in shares of HP Inc. (NYSE:HPQ) by 218.3% in the 4th quarter, HoldingsChannel reports. The fund owned 89,572 shares of the computer maker’s stock after acquiring an additional 61,433 shares during the period. Lake Street Advisors Group LLC’s holdings in HP were worth $2,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HPQ. Illinois Municipal Retirement Fund boosted its position in shares of HP by 228.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 220,674 shares of the computer maker’s stock worth $7,201,000 after purchasing an additional 153,433 shares in the last quarter. Sentry Investment Management LLC purchased a new stake in HP in the fourth quarter valued at about $123,000. J. W. Coons Advisors LLC acquired a new stake in HP in the fourth quarter worth about $209,000. RWC Asset Management LLP grew its stake in shares of HP by 14.1% during the fourth quarter. RWC Asset Management LLP now owns 4,419,796 shares of the computer maker’s stock worth $144,218,000 after acquiring an additional 547,010 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV increased its holdings in shares of HP by 2.5% during the fourth quarter. Mainstay Capital Management LLC ADV now owns 59,039 shares of the computer maker’s stock valued at $1,926,000 after acquiring an additional 1,444 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In other 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 value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on HPQ. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Wells Fargo & Company lifted their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. TD Cowen upped their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.68.

HP Stock Down 1.7 %

Shares of HPQ stock opened at $34.08 on Wednesday. The stock has a market cap of $31.96 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The business has a 50-day simple moving average of $33.11 and a 200-day simple moving average of $34.88.

HP (NYSE:HPQ) last announced its quarterly 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 company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. HP’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $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 company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 3.40%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 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.