Scissortail Wealth Management LLC Makes New $1.31 Million Investment in HP Inc. (NYSE:HPQ)

Scissortail Wealth Management LLC bought a new position in HP Inc. (NYSE:HPQ) in the fourth quarter, Holdings Channel reports. The firm bought 44,835 shares of the computer maker’s stock, valued at approximately $1,311,000.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after buying an additional 12,883,347 shares during the last quarter. Geode Capital Management LLC grew its position in shares of HP by 2.2% in the first quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock valued at $568,395,000 after purchasing an additional 421,075 shares in the last quarter. Morgan Stanley grew its position in shares of HP by 22.5% in the fourth quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock valued at $393,364,000 after purchasing an additional 2,686,976 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of HP by 114,461.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after purchasing an additional 11,528,558 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of HP by 6.2% in the third quarter. Northern Trust Corp now owns 10,131,560 shares of the computer maker’s stock valued at $260,381,000 after purchasing an additional 589,775 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent research reports. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Barclays lifted their price target on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, HSBC raised HP from a “hold” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

HP Stock Down 0.6 %

NYSE:HPQ traded down $0.18 during trading hours on Tuesday, hitting $27.79. 7,086,628 shares of the company’s stock traded hands, compared to its average volume of 8,139,472. The business’s fifty day simple moving average is $29.38 and its two-hundred day simple moving average is $28.77. HP Inc. has a 52 week low of $25.22 and a 52 week high of $33.90. The firm has a market cap of $27.25 billion, a P/E ratio of 8.17, a P/E/G ratio of 2.39 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue was down 4.4% compared to the same quarter last year. On average, analysts expect that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

Insiders Place Their Bets

In other news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other HP news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock valued at $3,479,287 over the last 90 days. Insiders own 0.41% of the company’s stock.

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.