Addison Advisors LLC Boosts Holdings in HP Inc. (NYSE:HPQ)

Addison Advisors LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,751 shares of the computer maker’s stock after buying an additional 1,078 shares during the period. Addison Advisors LLC’s holdings in HP were worth $203,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. California Public Employees Retirement System increased its stake in shares of HP by 3.9% in the third quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker’s stock worth $76,229,000 after purchasing an additional 112,427 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of HP by 23.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker’s stock worth $545,000 after purchasing an additional 4,054 shares in the last quarter. Alaska Permanent Fund Corp increased its stake in shares of HP by 1.4% in the fourth quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock worth $2,386,000 after purchasing an additional 1,091 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of HP by 8.8% in the third quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock worth $1,608,000 after purchasing an additional 5,064 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of HP by 87.9% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after acquiring an additional 358,231 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

HP stock traded down $0.13 during mid-day trading on Friday, hitting $28.00. 5,356,232 shares of the company traded hands, compared to its average volume of 6,076,379. HP Inc. has a one year low of $25.22 and a one year high of $33.90. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05. The stock has a fifty day moving average price of $29.27 and a 200-day moving average price of $28.85.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the business posted $0.75 earnings per share. HP’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts predict that HP Inc. will post 3.42 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $0.2756 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.94%. HP’s payout ratio is 32.16%.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Barclays raised their price objective on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

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.