Arvest Investments Inc. Reduces Holdings in HP Inc. (NYSE:HPQ)

Arvest Investments Inc. reduced its position in shares of HP Inc. (NYSE:HPQ) by 6.8% during the fourth quarter, HoldingsChannel reports. The firm owned 32,014 shares of the computer maker’s stock after selling 2,341 shares during the quarter. Arvest Investments Inc.’s holdings in HP were worth $1,045,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in HP in the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP in the fourth quarter worth about $31,000. OFI Invest Asset Management acquired a new position in shares of HP in the fourth quarter worth about $37,000. Itau Unibanco Holding S.A. purchased a new position in HP in the third quarter valued at about $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP during the 3rd quarter valued at approximately $44,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was 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 approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

HP Price Performance

NYSE:HPQ opened at $28.52 on Friday. The firm has a market capitalization of $26.88 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.96 and a beta of 1.09. The business has a 50 day simple moving average of $31.97 and a 200 day simple moving average of $34.24. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80.

HP (NYSE:HPQ) last released 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 business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.06%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HPQ shares. Loop Capital reduced their target price on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. TD Cowen decreased their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Barclays upped their target price on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Citigroup decreased their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus price target of $36.14.

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.