HP Inc. (HPQ) Stake Lowered by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in HP Inc. (NYSE:HPQ) by 21.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,161 shares of the computer maker’s stock after selling 6,046 shares during the quarter. Bessemer Group Inc.’s holdings in HP were worth $443,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its stake in HP by 19.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the computer maker’s stock worth $108,000 after purchasing an additional 1,013 shares in the last quarter. YorkBridge Wealth Partners LLC increased its stake in HP by 3.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the computer maker’s stock worth $113,000 after purchasing an additional 200 shares in the last quarter. Evercore Wealth Management LLC increased its stake in HP by 14.0% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,793 shares of the computer maker’s stock worth $119,000 after purchasing an additional 836 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in HP by 15.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the computer maker’s stock worth $130,000 after purchasing an additional 996 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in HP by 1.1% during the 2nd quarter. D.A. Davidson & CO. now owns 7,580 shares of the computer maker’s stock worth $132,000 after purchasing an additional 85 shares in the last quarter. 79.63% of the stock is owned by institutional investors.

In related news, insider Marie Myers sold 10,025 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $19.50, for a total value of $195,487.50. Following the transaction, the insider now owns 10,025 shares in the company, valued at $195,487.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dion J. Weisler sold 95,521 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the transaction, the chief executive officer now owns 435,018 shares in the company, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. Insiders have sold a total of 1,853,937 shares of company stock worth $37,905,548 in the last quarter. Company insiders own 0.62% of the company’s stock.

A number of analysts recently issued reports on the company. Susquehanna Bancshares Inc reissued a “hold” rating and set a $20.00 target price on shares of HP in a research note on Friday, August 25th. Jefferies Group LLC reissued a “hold” rating and set a $20.00 target price (up from $19.00) on shares of HP in a research note on Tuesday, September 5th. Maxim Group reissued a “hold” rating and set a $22.00 target price (up from $21.00) on shares of HP in a research note on Thursday, August 24th. Wells Fargo & Company assumed coverage on HP in a research note on Tuesday, November 14th. They set a “market perform” rating and a $21.00 target price for the company. Finally, BidaskClub raised HP from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.57.

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HP Inc. (NYSE:HPQ) opened at $21.75 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.74 and a debt-to-equity ratio of -1.55. The firm has a market capitalization of $36,328.02, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 3.22 and a beta of 1.85. HP Inc. has a 12-month low of $14.40 and a 12-month high of $22.31.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The firm had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. sell-side analysts forecast that HP Inc. will post 1.65 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.1393 per share. This is a boost from HP’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.56 annualized dividend and a yield of 2.56%. HP’s dividend payout ratio (DPR) is presently 38.41%.

HP Company Profile

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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