Today, Lucus Advisors LLC Reduces Position in HP Inc. (HPQ)

Today, Lucus Advisors LLC Reduces Position in HP Inc. (HPQ)

Lucus Advisors LLC cut its position in shares of HP Inc. (NYSE:HPQ) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,455 shares of the computer maker’s stock after selling 2,693 shares during the period. Lucus Advisors LLC’s holdings in HP were worth $395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Penserra Capital Management LLC raised its stake in HP by 99.9% in the third quarter. Penserra Capital Management LLC now owns 12,461 shares of the computer maker’s stock valued at $193,000 after buying an additional 6,228 shares during the period. AMG National Trust Bank raised its stake in HP by 11.6% in the third quarter. AMG National Trust Bank now owns 271,714 shares of the computer maker’s stock valued at $4,220,000 after buying an additional 28,258 shares during the period. Abner Herrman & Brock LLC raised its stake in HP by 0.5% in the third quarter. Abner Herrman & Brock LLC now owns 92,155 shares of the computer maker’s stock valued at $1,431,000 after buying an additional 438 shares during the period. Meyer Handelman Co. raised its stake in HP by 1.2% in the third quarter. Meyer Handelman Co. now owns 440,314 shares of the computer maker’s stock valued at $6,839,000 after buying an additional 5,400 shares during the period. Finally, Commerce Bank raised its stake in HP by 311.0% in the third quarter. Commerce Bank now owns 162,414 shares of the computer maker’s stock valued at $2,522,000 after buying an additional 122,894 shares during the period. 79.49% of the stock is currently owned by institutional investors and hedge funds.

Shares of HP Inc. (NYSE:HPQ) traded up 2.08% during midday trading on Friday, hitting $15.18. The stock had a trading volume of 8,671,544 shares. The stock has a 50-day moving average price of $14.98 and a 200-day moving average price of $14.00. The stock has a market cap of $25.97 billion, a P/E ratio of 8.08 and a beta of 1.53. HP Inc. has a 12-month low of $8.91 and a 12-month high of $16.19.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 22nd. The computer maker reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. The firm had revenue of $12.50 billion for the quarter, compared to analysts’ expectations of $11.89 billion. HP had a negative return on equity of 61.38% and a net margin of 5.17%. HP’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. Equities analysts forecast that HP Inc. will post $1.60 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be issued a dividend of $0.1327 per share. This represents a $0.53 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Monday, December 12th. This is a boost from HP’s previous quarterly dividend of $0.12. HP’s dividend payout ratio is 35.21%.

Several research firms recently commented on HPQ. Barclays PLC raised their target price on HP from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, August 25th. RBC Capital Markets reissued a “sector perform” rating and issued a $14.00 price objective on shares of HP in a report on Tuesday, September 13th. Vetr raised HP from a “buy” rating to a “strong-buy” rating and set a $16.84 price objective on the stock in a report on Monday, October 17th. Jefferies Group raised their price objective on HP from $16.00 to $16.75 and gave the company a “buy” rating in a report on Thursday, August 25th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $15.00 price objective on shares of HP in a report on Thursday, August 25th. Fifteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $15.73.

In other HP news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total transaction of $1,500,000.00. Following the sale, the insider now owns 213,582 shares in the company, valued at approximately $3,203,730. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marie Myers sold 10,269 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the sale, the insider now owns 22,390 shares in the company, valued at approximately $325,774.50. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

HP Company Profile

HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.

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