Scissortail Wealth Management LLC Takes Position in HP Inc. (NYSE:HPQ)

Scissortail Wealth Management LLC bought a new stake in HP Inc. (NYSE:HPQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 44,835 shares of the computer maker’s stock, valued at approximately $1,311,000.

Several other institutional investors have also recently bought and sold shares of HPQ. Vanguard Group Inc. lifted its stake in HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in HP by 114,461.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after acquiring an additional 11,528,558 shares in the last quarter. Pacer Advisors Inc. lifted its stake in HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after acquiring an additional 9,294,209 shares in the last quarter. Norges Bank bought a new stake in HP in the 4th quarter valued at approximately $151,025,000. Finally, Qube Research & Technologies Ltd lifted its stake in HP by 145.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock valued at $156,535,000 after acquiring an additional 3,613,742 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

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

HP Price Performance

NYSE HPQ traded down $0.18 on Tuesday, reaching $27.79. The stock had a trading volume of 7,086,628 shares, compared to its average volume of 8,139,472. The firm has a fifty day moving average of $29.38 and a two-hundred day moving average of $28.77. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The company has a market cap of $27.25 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 2.39 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 EPS 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 analyst estimates of $13.56 billion. During the same period in the prior year, the firm posted $0.75 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts predict that HP Inc. will post 3.42 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date was Tuesday, March 12th. HP’s dividend payout ratio is 32.16%.

Insider Buying and Selling at HP

In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’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 transaction, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert R. Bennett sold 67,000 shares of the company’s 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 sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock valued at $3,479,287 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

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.