Ritholtz Wealth Management Raises Holdings in HP Inc. (NYSE:HPQ)

Ritholtz Wealth Management increased its holdings in HP Inc. (NYSE:HPQ) by 8.0% in the 4th quarter, HoldingsChannel reports. The fund owned 85,294 shares of the computer maker’s stock after purchasing an additional 6,344 shares during the quarter. Ritholtz Wealth Management’s holdings in HP were worth $2,567,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HPQ. Certified Advisory Corp purchased a new position in shares of HP during the first quarter worth $26,000. Rosenberg Matthew Hamilton boosted its position in shares of HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares during the period. Mascoma Wealth Management LLC purchased a new position in shares of HP during the third quarter worth $25,000. VitalStone Financial LLC purchased a new position in shares of HP during the first quarter worth $38,000. Finally, Covestor Ltd boosted its position in shares of HP by 84.5% during the second quarter. Covestor Ltd now owns 1,096 shares of the computer maker’s stock worth $33,000 after buying an additional 502 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HPQ has been the subject of several research analyst reports. HSBC upgraded HP from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. Barclays increased their price objective on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Morgan Stanley upgraded HP from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $35.00 in a research note on Tuesday, December 12th. Evercore ISI upgraded HP from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $33.00 to $40.00 in a research note on Monday, December 11th. Finally, StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Insider Activity

In other news, CEO Enrique Lores sold 38,000 shares of HP stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the sale, the chief executive officer now owns 888,911 shares of the company’s stock, valued at $26,445,102.25. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other HP news, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Enrique Lores sold 38,000 shares of HP stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the sale, the chief executive officer now directly owns 888,911 shares of the company’s stock, valued at approximately $26,445,102.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,723 shares of company stock worth $4,609,787. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Up 0.3 %

Shares of NYSE HPQ traded up $0.10 during midday trading on Thursday, reaching $30.22. 5,953,912 shares of the company were exchanged, compared to its average volume of 8,511,959. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The stock has a fifty day simple moving average of $29.30 and a 200 day simple moving average of $28.55. The stock has a market cap of $29.64 billion, a P/E ratio of 8.84, a PEG ratio of 2.52 and a beta of 1.04.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. As a group, analysts forecast that HP Inc. will post 3.41 earnings per share for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be issued a $0.2756 dividend. The ex-dividend date is Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a yield of 3.65%. HP’s dividend payout ratio is currently 32.16%.

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.