Denali Advisors LLC Sells 3,606 Shares of HP Inc. (NYSE:HPQ)

Denali Advisors LLC lessened its holdings in HP Inc. (NYSE:HPQ) by 14.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 21,362 shares of the computer maker’s stock after selling 3,606 shares during the period. Denali Advisors LLC’s holdings in HP were worth $697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in HPQ. Richard Bernstein Advisors LLC acquired a new stake in shares of HP during the 4th quarter valued at about $2,418,000. Lake Street Advisors Group LLC raised its position in HP by 218.3% in the fourth quarter. Lake Street Advisors Group LLC now owns 89,572 shares of the computer maker’s stock worth $2,948,000 after purchasing an additional 61,433 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in HP by 228.2% during the fourth 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 during the period. Sentry Investment Management LLC acquired a new stake in HP during the fourth quarter valued at approximately $123,000. Finally, J. W. Coons Advisors LLC bought a new stake in shares of HP in the 4th quarter valued at approximately $209,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Down 1.0 %

Shares of HPQ stock opened at $33.76 on Thursday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The firm’s 50 day moving average is $33.14 and its 200-day moving average is $34.87. The firm has a market capitalization of $31.66 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $14.06 billion for 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%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. On average, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 40.93%.

Insider Activity at HP

In other news, insider Alex Cho sold 10,298 shares of HP stock in a transaction that occurred 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 owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 over the last 90 days. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. cut their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, TD Cowen boosted their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.68.

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.