HP Inc. (HPQ) Stake Lowered by Sound Income Strategies LLC

Sound Income Strategies LLC decreased its position in shares of HP Inc. (NYSE:HPQ) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,933 shares of the computer maker’s stock after selling 5,264 shares during the period. HP comprises 0.5% of Sound Income Strategies LLC’s investment portfolio, making the stock its 23rd biggest position. Sound Income Strategies LLC’s holdings in HP were worth $1,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HPQ. OppenheimerFunds Inc. lifted its stake in HP by 10.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,128,987 shares of the computer maker’s stock worth $48,307,000 after acquiring an additional 197,172 shares in the last quarter. BB&T Securities LLC increased its holdings in HP by 70.3% during the 2nd quarter. BB&T Securities LLC now owns 38,728 shares of the computer maker’s stock worth $878,000 after purchasing an additional 15,985 shares during the period. Raymond James & Associates increased its holdings in HP by 11.7% during the 2nd quarter. Raymond James & Associates now owns 1,215,993 shares of the computer maker’s stock worth $27,591,000 after purchasing an additional 127,463 shares during the period. First Republic Investment Management Inc. increased its holdings in HP by 10.8% during the 2nd quarter. First Republic Investment Management Inc. now owns 75,920 shares of the computer maker’s stock worth $1,723,000 after purchasing an additional 7,400 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its holdings in HP by 42.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 15,534 shares of the computer maker’s stock worth $352,000 after purchasing an additional 4,641 shares during the period. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

In other HP news, insider Dion J. Weisler sold 86,389 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the completion of the sale, the insider now directly owns 815,945 shares of the company’s stock, valued at approximately $20,235,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kim M. Rivera sold 46,072 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $24.14, for a total value of $1,112,178.08. Following the sale, the insider now directly owns 15,241 shares of the company’s stock, valued at $367,917.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 281,248 shares of company stock valued at $6,658,061. Insiders own 0.25% of the company’s stock.

Shares of NYSE HPQ traded up $0.26 during trading hours on Thursday, reaching $21.47. The stock had a trading volume of 7,957,866 shares, compared to its average volume of 8,993,522. The stock has a market cap of $32.19 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. HP Inc. has a fifty-two week low of $19.22 and a fifty-two week high of $27.08.

HP (NYSE:HPQ) last announced its earnings results on Thursday, November 29th. The computer maker reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $15.37 billion during the quarter, compared to analysts’ expectations of $15.13 billion. HP had a negative return on equity of 188.62% and a net margin of 9.11%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. As a group, research analysts forecast that HP Inc. will post 2.17 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Thursday, December 13th were given a $0.1602 dividend. The ex-dividend date was Wednesday, December 12th. This is a boost from HP’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.98%. HP’s dividend payout ratio is 31.68%.

Several brokerages have weighed in on HPQ. Royal Bank of Canada restated a “buy” rating and set a $26.00 price target on shares of HP in a report on Wednesday, January 2nd. Standpoint Research started coverage on HP in a report on Wednesday, December 26th. They issued a “buy” rating and a $19.38 price objective on the stock. Wolfe Research started coverage on HP in a report on Tuesday, December 11th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. set a $26.00 price objective on HP and gave the company a “neutral” rating in a report on Friday, November 30th. Finally, ValuEngine downgraded HP from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. HP has an average rating of “Hold” and a consensus price target of $26.67.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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