Tocqueville Asset Management L.P. Grows Stake in HP Inc. (NYSE:HPQ)

Tocqueville Asset Management L.P. lifted its stake in shares of HP Inc. (NYSE:HPQ) by 19.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,629 shares of the computer maker’s stock after purchasing an additional 2,233 shares during the period. Tocqueville Asset Management L.P.’s holdings in HP were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. King Luther Capital Management Corp increased its stake in shares of HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after purchasing an additional 303 shares in the last quarter. HBK Sorce Advisory LLC grew its stake in HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after acquiring an additional 306 shares in the last quarter. Auxano Advisors LLC grew its stake in HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after acquiring an additional 310 shares in the last quarter. Wedmont Private Capital raised its holdings in HP by 2.6% in the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised its holdings in HP by 2.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after acquiring an additional 319 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $28.76 on Thursday. The company has a market capitalization of $27.11 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 2.96 and a beta of 1.09. The company’s 50 day simple moving average is $32.07 and its 200 day simple moving average is $34.28. HP Inc. has a 1 year low of $27.43 and a 1 year high of $39.80.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Equities analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Activity

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 completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Barclays increased their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Loop Capital cut their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. Citigroup cut their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, 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. One equities research 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.14.

HP Company 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.