Cresset Asset Management LLC Reduces Stock Holdings in HP Inc. (NYSE:HPQ)

Cresset Asset Management LLC cut its holdings in HP Inc. (NYSE:HPQ - Free Report) by 62.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,394 shares of the computer maker's stock after selling 95,533 shares during the quarter. Cresset Asset Management LLC's holdings in HP were worth $1,855,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in HP in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in HP in the fourth quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in HP in the fourth quarter worth about $36,000. OFI Invest Asset Management purchased a new stake in HP in the fourth quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in HP in the fourth quarter worth about $50,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HPQ. StockNews.com upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Monday. Loop Capital reduced their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. TD Cowen lowered their target price on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Evercore ISI dropped their target price on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of HP from $40.00 to $29.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $33.83.

HP Stock Performance

NYSE HPQ traded down $0.18 during mid-day trading on Wednesday, reaching $28.60. 7,214,593 shares of the stock were exchanged, compared to its average volume of 7,867,001. The business's 50 day moving average is $26.18 and its 200-day moving average is $31.45. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The company has a market capitalization of $26.96 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 1.32.

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, hitting analysts' consensus estimates of $0.74. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.05%. HP's dividend payout ratio (DPR) is currently 41.37%.

Insiders Place Their Bets

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