Bessemer Group Inc. cut its holdings in HP Inc. (NYSE:HPQ – Get Rating) by 18.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,816 shares of the computer maker’s stock after selling 14,808 shares during the quarter. Bessemer Group Inc.’s holdings in HP were worth $1,741,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Certified Advisory Corp acquired a new stake in HP in the first quarter worth about $26,000. Glass Jacobson Investment Advisors llc acquired a new stake in HP in the fourth quarter worth about $30,000. Beacon Capital Management LLC increased its position in HP by 462.9% in the fourth quarter. Beacon Capital Management LLC now owns 1,244 shares of the computer maker’s stock worth $33,000 after purchasing an additional 1,023 shares during the period. Sandy Spring Bank increased its position in HP by 56.3% in the fourth quarter. Sandy Spring Bank now owns 1,255 shares of the computer maker’s stock worth $34,000 after purchasing an additional 452 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its position in HP by 53.3% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,295 shares of the computer maker’s stock worth $35,000 after purchasing an additional 450 shares during the period. 79.68% of the stock is currently owned by institutional investors and hedge funds.
HP Price Performance
NYSE:HPQ opened at $29.80 on Friday. HP Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $36.23. The stock has a market capitalization of $29.38 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 3.26 and a beta of 1.00. The business’s 50-day simple moving average is $29.95 and its 200-day simple moving average is $29.02.
HP Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 14th will be given a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Tuesday, June 13th. HP’s dividend payout ratio (DPR) is 39.77%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on HPQ. 58.com reiterated a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. UBS Group boosted their target price on HP from $30.00 to $31.00 in a research report on Wednesday, May 31st. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research report on Thursday, June 1st. The Goldman Sachs Group initiated coverage on HP in a research report on Monday, March 20th. They set a “neutral” rating and a $26.00 target price for the company. Finally, JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $35.00 in a research report on Monday, April 17th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.81.
Insiders Place Their Bets
In other HP news, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $29.31, for a total transaction of $122,076.15. Following the transaction, the chief financial officer now owns 34,776 shares of the company’s stock, valued at approximately $1,019,284.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $29.51, for a total transaction of $1,121,380.00. Following the transaction, the chief executive officer now directly owns 766,268 shares of the company’s stock, valued at approximately $22,612,568.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $29.31, for a total value of $122,076.15. Following the transaction, the chief financial officer now directly owns 34,776 shares in the company, valued at $1,019,284.56. The disclosure for this sale can be found here. Insiders have sold 50,495 shares of company stock valued at $1,490,024 in the last 90 days. 0.32% of the stock is currently owned by insiders.
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.
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