Sound Income Strategies LLC Trims Holdings in HP Inc. (HPQ)
Sound Income Strategies LLC lessened its position in HP Inc. (NYSE:HPQ) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 52,254 shares of the computer maker’s stock after selling 3,943 shares during the quarter. HP makes up approximately 0.6% of Sound Income Strategies LLC’s holdings, making the stock its 24th largest holding. Sound Income Strategies LLC’s holdings in HP were worth $1,069,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Csenge Advisory Group purchased a new position in shares of HP during the third quarter valued at approximately $60,000. Cerebellum GP LLC purchased a new position in shares of HP during the fourth quarter valued at approximately $152,000. Capital Advisors Ltd. LLC boosted its position in shares of HP by 6,530.8% during the third quarter. Capital Advisors Ltd. LLC now owns 7,095 shares of the computer maker’s stock valued at $183,000 after buying an additional 6,988 shares during the last quarter. United Capital Management of KS Inc. purchased a new position in shares of HP during the third quarter valued at approximately $201,000. Finally, Truvestments Capital LLC purchased a new position in shares of HP during the second quarter valued at approximately $204,000. 80.17% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Alex Cho sold 28,774 shares of the business’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $22.30, for a total transaction of $641,660.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dion J. Weisler sold 86,389 shares of the business’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total value of $2,142,447.20. Following the transaction, the insider now owns 815,945 shares of the company’s stock, valued at $20,235,436. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 281,248 shares of company stock valued at $6,658,061. 0.25% of the stock is owned by company insiders.
HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, November 29th. The computer maker reported $0.54 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.54. HP had a negative return on equity of 188.62% and a net margin of 9.11%. The company had revenue of $15.37 billion for the quarter, compared to analyst estimates of $15.13 billion. During the same period in the previous year, the company posted $0.44 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, sell-side analysts predict that HP Inc. will post 2.17 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Thursday, December 13th were given a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a yield of 3.05%. This is a boost from HP’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, December 12th. HP’s payout ratio is presently 31.68%.
Several research firms have weighed in on HPQ. Argus reissued a “buy” rating on shares of HP in a research report on Monday, October 8th. Maxim Group boosted their price objective on HP from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Zacks Investment Research cut HP from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Wolfe Research began coverage on HP in a research report on Tuesday, December 11th. They issued an “outperform” rating on the stock. Finally, Standpoint Research initiated coverage on HP in a research report on Wednesday, December 26th. They issued a “buy” rating and a $19.38 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $26.67.
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.
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