Old Port Advisors Has $330,000 Stock Holdings in HP Inc. (NYSE:HPQ)

Old Port Advisors increased its stake in HP Inc. (NYSE:HPQ) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,116 shares of the computer maker’s stock after acquiring an additional 504 shares during the quarter. Old Port Advisors’ holdings in HP were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new position in shares of HP in the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC grew its stake in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC bought a new stake in HP in the third quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new position in HP in the third quarter valued at approximately $40,000. Finally, DecisionPoint Financial LLC bought a new position in shares of HP during the 2nd quarter worth approximately $43,000. 77.53% of the stock is currently owned by institutional investors.

HP Trading Down 0.5 %

NYSE HPQ opened at $32.47 on Friday. The firm has a market capitalization of $31.29 billion, a P/E ratio of 11.56, a PEG ratio of 2.95 and a beta of 1.04. The business has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $35.55. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the firm earned $0.90 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.57%. This is an increase from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is presently 41.28%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HPQ shares. Barclays lifted their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. TD Cowen upped their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.45.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by company insiders.

HP Company 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.