Weybosset Research & Management LLC Sells 7,201 Shares of HP Inc. (NYSE:HPQ)

Weybosset Research & Management LLC lessened its stake in shares of HP Inc. (NYSE:HPQ) by 2.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 319,113 shares of the computer maker’s stock after selling 7,201 shares during the period. HP makes up approximately 3.6% of Weybosset Research & Management LLC’s holdings, making the stock its 12th largest holding. Weybosset Research & Management LLC’s holdings in HP were worth $9,644,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HPQ. California Public Employees Retirement System lifted its holdings in shares of HP by 3.9% in the 3rd quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker’s stock worth $76,229,000 after acquiring an additional 112,427 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in HP by 23.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker’s stock worth $545,000 after purchasing an additional 4,054 shares during the last quarter. Alaska Permanent Fund Corp boosted its position in shares of HP by 1.4% during the fourth quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock valued at $2,386,000 after buying an additional 1,091 shares during the period. Wealthfront Advisers LLC boosted its position in shares of HP by 8.8% during the third quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock valued at $1,608,000 after buying an additional 5,064 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of HP by 87.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after buying an additional 358,231 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at HP

In other news, 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 approximately $1,642,381.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

HP Trading Up 1.0 %

Shares of HP stock traded up $0.27 during trading on Monday, hitting $28.27. 5,670,403 shares of the stock traded hands, compared to its average volume of 7,950,248. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90. The stock’s fifty day simple moving average is $29.27 and its 200 day simple moving average is $28.89. The firm has a market cap of $27.73 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.2756 per share. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a yield of 3.90%. HP’s dividend payout ratio is currently 32.16%.

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.