Folger Nolan Fleming Douglas Capital Management Inc. Takes Position in HP Inc. (NYSE:HPQ)

Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in HP Inc. (NYSE:HPQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,480 shares of the computer maker’s stock, valued at approximately $225,000.

Other large investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its stake in HP by 84.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in HP in the fourth quarter worth approximately $28,000. Janiczek Wealth Management LLC raised its stake in HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in HP in the fourth quarter worth approximately $34,000. Finally, Salem Investment Counselors Inc. raised its stake in HP by 47.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after buying an additional 380 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,723 shares of company stock worth $3,479,287. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

HP Price Performance

NYSE:HPQ traded down $0.13 during mid-day trading on Friday, hitting $28.00. The company’s stock had a trading volume of 5,356,232 shares, compared to its average volume of 6,076,379. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 2.35 and a beta of 1.05. The business’s fifty day moving average is $29.27 and its two-hundred day moving average is $28.85.

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

HP Announces Dividend

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

About HP

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.