HP Inc. (NYSE:HPQ) Shares Sold by Gradient Investments LLC

Posted by Defense World Staff on Jun 30th, 2023

Gradient Investments LLC decreased its holdings in HP Inc. (NYSE:HPQ – Free Report) by 28.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912 shares of the computer maker’s stock after selling 360 shares during the quarter. Gradient Investments LLC’s holdings in HP were worth $27,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. FourThought Financial LLC boosted its position in shares of HP by 5.4% in the 3rd quarter. FourThought Financial LLC now owns 7,052 shares of the computer maker’s stock worth $176,000 after purchasing an additional 363 shares in the last quarter. Glassman Wealth Services lifted its position in HP by 24.8% during the 4th quarter. Glassman Wealth Services now owns 1,869 shares of the computer maker’s stock worth $50,000 after acquiring an additional 372 shares during the period. KCM Investment Advisors LLC lifted its position in HP by 4.4% during the 1st quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock worth $347,000 after acquiring an additional 400 shares during the period. Empirical Finance LLC lifted its position in HP by 1.4% during the 1st quarter. Empirical Finance LLC now owns 30,771 shares of the computer maker’s stock worth $903,000 after acquiring an additional 428 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in HP by 53.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,295 shares of the computer maker’s stock worth $35,000 after acquiring an additional 450 shares during the period. Institutional investors and hedge funds own 76.18% of the company’s stock.

HP Trading Up 1.3 %

NYSE HPQ opened at $30.32 on Friday. The stock has a market capitalization of $29.89 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 2.22 and a beta of 1.00. HP Inc. has a twelve month low of $24.08 and a twelve month high of $35.32. The stock has a 50-day moving average of $30.07 and a 200 day moving average of $29.13.

HP (NYSE:HPQ – Free Report) last released its quarterly earnings results on Tuesday, May 30th. The computer maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The company had revenue of $12.91 billion during the quarter, compared to analysts’ expectations of $13.07 billion. HP had a negative return on equity of 121.57% and a net margin of 4.75%. HP’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. Equities analysts predict that HP Inc. will post 3.35 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a $0.2625 dividend. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 dividend on an annualized basis and a yield of 3.46%. HP’s payout ratio is 39.77%.

Analysts Set New Price Targets

HPQ has been the subject of a number of research reports. Bank of America lifted their price target on HP from $26.00 to $27.00 in a research report on Wednesday, May 31st. 58.com reaffirmed a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. JPMorgan Chase & Co. raised HP from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $35.00 in a research report on Monday, April 17th. The Goldman Sachs Group assumed coverage on HP in a research note on Monday, March 20th. They set a “neutral” rating and a $26.00 price objective for the company. Finally, UBS Group lifted their price objective on HP from $30.00 to $31.00 in a research note on Wednesday, May 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $29.81.

Insider Buying and Selling at HP

In other HP news, CFO Marie Myers sold 4,165 shares of the 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 completion of the transaction, the chief financial officer now owns 34,776 shares of the company’s stock, valued at $1,019,284.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other HP news, CFO Marie Myers sold 4,165 shares of the 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 completion of the transaction, the chief financial officer now owns 34,776 shares of the company’s stock, valued at $1,019,284.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Enrique Lores sold 38,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $29.51, for a total value 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 disclosure for this sale can be found here. Insiders sold 50,495 shares of company stock valued at $1,490,024 over the last quarter. 0.32% of the stock is currently owned by insiders.

About HP

(Free Report)

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.