Proficio Capital Partners LLC Invests $211,000 in HP Inc. (NYSE:HPQ)

Proficio Capital Partners LLC bought a new stake in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,481 shares of the computer maker’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC grew its position in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after buying an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after acquiring an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of HP by 7.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after buying an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in HP by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after buying an additional 90,606 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

HP Price Performance

HP stock opened at $28.68 on Friday. The firm has a market cap of $27.03 billion, a price-to-earnings ratio of 10.20, a P/E/G ratio of 2.96 and a beta of 1.09. The firm has a fifty day moving average price of $31.57 and a two-hundred day moving average price of $34.02. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, sell-side analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HPQ. Wells Fargo & Company upped their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley cut their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.14.

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.