Cary Street Partners Financial LLC Acquires Shares of 9,526 HP Inc. (NYSE:HPQ)

Cary Street Partners Financial LLC purchased a new stake in HP Inc. (NYSE:HPQ - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 9,526 shares of the computer maker's stock, valued at approximately $311,000.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares during the last quarter. Pacer Advisors Inc. raised its holdings in HP by 4.2% in the 4th 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 last quarter. Northern Trust Corp raised its holdings in HP by 15.8% in the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after acquiring an additional 1,755,942 shares during the last quarter. Invesco Ltd. raised its holdings in HP by 7.3% in the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock valued at $310,351,000 after acquiring an additional 643,192 shares during the last quarter. Finally, Norges Bank acquired a new position in HP in the 4th quarter valued at $229,320,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

NYSE HPQ traded down $0.18 during trading hours on Wednesday, hitting $28.60. The company had a trading volume of 7,214,593 shares, compared to its average volume of 7,867,001. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market capitalization of $26.96 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 1.32. The firm's 50 day moving average is $26.18 and its 200 day moving average is $31.45.

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

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.05%. HP's dividend payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com upgraded HP from a "hold" rating to a "buy" rating in a report on Monday. Citigroup dropped their price objective on HP from $36.50 to $25.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Barclays upped their price objective on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley dropped their price objective on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their price objective on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, HP currently has an average rating of "Hold" and an average target price of $33.83.

Insider Activity at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This represents a 99.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by 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.