Hennion & Walsh Asset Management Inc. Buys New Holdings in HP Inc. (NYSE:HPQ)

Hennion & Walsh Asset Management Inc. purchased a new stake in HP Inc. (NYSE:HPQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,235 shares of the computer maker's stock, valued at approximately $530,000.

Other institutional investors have also made changes to their positions in the company. State Street Corp increased its stake in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock worth $885,877,000 after buying an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. boosted its stake in HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock valued at $508,791,000 after buying an additional 1,455,138 shares in the last quarter. Legal & General Group Plc grew its position in HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker's stock valued at $375,079,000 after acquiring an additional 1,089,848 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in HP by 7.7% during the third 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 acquiring an additional 612,675 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Trading Up 1.2 %

HP stock traded up $0.41 during trading on Tuesday, hitting $32.92. 4,894,916 shares of the company were exchanged, compared to its average volume of 6,273,743. The business's 50 day moving average is $34.68 and its 200 day moving average is $35.33. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The company has a market capitalization of $30.87 billion, a P/E ratio of 11.70, a PEG ratio of 2.77 and a beta of 1.05.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company's revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. Equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is an increase from HP's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.52%. HP's dividend payout ratio is presently 41.28%.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares of the company's stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of research reports. Bank of America lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a research report on Friday, September 27th. Hsbc Global Res downgraded HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their price target on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, HP currently has a consensus rating of "Hold" and a consensus target price of $36.23.

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.