Bahl & Gaynor Inc. Sells 144,760 Shares of HP Inc. (NYSE:HPQ)

Bahl & Gaynor Inc. trimmed its position in HP Inc. (NYSE:HPQ) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,602,873 shares of the computer maker’s stock after selling 144,760 shares during the period. Bahl & Gaynor Inc. owned about 0.28% of HP worth $84,932,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HPQ. King Luther Capital Management Corp boosted its stake in shares of HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after acquiring an additional 303 shares during the last quarter. Arvest Investments Inc. raised its stake in HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after purchasing an additional 310 shares in the last quarter. Auxano Advisors LLC lifted its holdings in shares of HP by 3.7% in 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 during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of HP by 4.3% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after purchasing an additional 316 shares during the period. Finally, Wedmont Private Capital increased its position in HP by 2.6% during the fourth 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. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Morgan Stanley decreased their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday. Wells Fargo & Company increased their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Citigroup reduced their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, HP presently has an average rating of “Hold” and a consensus price target of $36.59.

Insider Buying and Selling

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 owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 262,737 shares of company stock worth $9,316,641 over the last 90 days. 0.41% of the stock is owned by insiders.

HP Price Performance

Shares of NYSE:HPQ opened at $30.03 on Tuesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The business’s 50 day moving average price is $33.04 and its 200-day moving average price is $34.80. The firm has a market capitalization of $28.32 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, sell-side analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

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 issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.85%. HP’s dividend payout ratio (DPR) is 41.37%.

About HP

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.