Ellsworth Advisors LLC Grows Stock Position in HP Inc. (NYSE:HPQ)

Ellsworth Advisors LLC increased its position in HP Inc. (NYSE:HPQ - Free Report) by 230.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 130,304 shares of the computer maker's stock after acquiring an additional 90,827 shares during the period. Ellsworth Advisors LLC's holdings in HP were worth $4,252,000 at the end of the most recent reporting period.

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

HP Price Performance

Shares of HPQ stock traded up $0.18 during mid-day trading on Monday, hitting $32.53. The stock had a trading volume of 8,455,648 shares, compared to its average volume of 5,433,404. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The firm's 50-day moving average is $34.78 and its two-hundred day moving average is $35.35. The firm has a market capitalization of $30.51 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.05.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting 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 negative return on equity of 253.39% and a net margin of 5.18%. The firm's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. Analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a $0.2894 dividend. This is a boost from HP's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. HP's dividend payout ratio (DPR) is presently 41.28%.

Insider Activity at HP

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays upped their target price on shares of HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. Bank of America lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a research note 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. TD Cowen boosted their price target on shares of HP from $32.00 to $39.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. Finally, Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $36.23.

HP 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.