Ellsworth Advisors LLC Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Ellsworth Advisors LLC increased its stake in HP Inc. (NYSE:HPQ) by 230.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,304 shares of the computer maker’s stock after acquiring an additional 90,827 shares during the quarter. Ellsworth Advisors LLC’s holdings in HP were worth $4,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC acquired a new position in shares of HP during the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC increased its stake in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of HP during the third quarter valued at approximately $37,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP in the third quarter valued at approximately $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of HP in the third quarter worth approximately $44,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HPQ shares. JPMorgan Chase & Co. lowered their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein raised their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. HSBC downgraded HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.23.

HP Stock Up 0.6 %

Shares of NYSE HPQ opened at $32.53 on Monday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The business’s 50 day moving average is $34.78 and its two-hundred day moving average is $35.35. The firm has a market cap of $30.51 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.83 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. Analysts anticipate 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. Shareholders of record on Wednesday, December 11th were paid a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.56%. HP’s dividend payout ratio (DPR) is currently 40.93%.

Insiders Place Their Bets

In other news, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 in the last ninety days. Insiders own 0.41% of the company’s stock.

About HP

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.