Stevens Capital Management LP Lowers Position in HP Inc. (NYSE:HPQ)

Stevens Capital Management LP cut its holdings in shares of HP Inc. (NYSE:HPQ) by 66.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,106 shares of the computer maker’s stock after selling 49,306 shares during the quarter. Stevens Capital Management LP’s holdings in HP were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of HPQ. Rosenberg Matthew Hamilton boosted its holdings in HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after acquiring an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in HP during the 4th quarter valued at about $28,000. Janiczek Wealth Management LLC raised its position in HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 566 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in HP in the 4th quarter valued at about $34,000. Finally, Salem Investment Counselors Inc. raised its position in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on HPQ. StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Barclays increased their price target on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, HSBC raised HP from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.11.

HP Price Performance

Shares of HPQ stock traded up $0.03 during midday trading on Thursday, hitting $28.13. The company had a trading volume of 5,031,558 shares, compared to its average volume of 8,009,451. The company’s 50 day simple moving average is $29.30 and its 200 day simple moving average is $28.84. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90. The stock has a market cap of $27.59 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 2.31 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same period in the previous year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts anticipate that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $0.2756 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.92%. HP’s dividend payout ratio (DPR) is presently 32.16%.

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.