Magnetar Financial LLC Buys Shares of 160,630 HP Inc. (NYSE:HPQ)

Magnetar Financial LLC acquired a new position in HP Inc. (NYSE:HPQ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 160,630 shares of the computer maker's stock, valued at approximately $5,241,000.

Several other hedge funds have also recently added to or reduced their stakes in HPQ. Royal London Asset Management Ltd. increased its position in shares of HP by 4.6% during the fourth quarter. Royal London Asset Management Ltd. now owns 431,344 shares of the computer maker's stock worth $14,075,000 after buying an additional 18,840 shares during the period. Investment House LLC boosted its position in HP by 0.9% during the fourth quarter. Investment House LLC now owns 291,597 shares of the computer maker's stock valued at $9,515,000 after acquiring an additional 2,490 shares during the last quarter. Brooklyn FI LLC acquired a new stake in HP during the 4th quarter worth about $9,162,000. Xponance Inc. raised its position in shares of HP by 6.4% in the 4th quarter. Xponance Inc. now owns 176,539 shares of the computer maker's stock worth $5,760,000 after acquiring an additional 10,667 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in shares of HP in the 4th quarter valued at about $1,528,000. Institutional investors own 77.53% of the company's stock.

HP Trading Up 1.1 %

Shares of NYSE:HPQ traded up $0.31 during mid-day trading on Monday, hitting $28.99. 5,804,642 shares of the company traded hands, compared to its average volume of 7,180,114. The stock has a market cap of $27.33 billion, a P/E ratio of 10.32, a P/E/G ratio of 2.96 and a beta of 1.09. The stock has a 50-day moving average price of $31.80 and a two-hundred day moving average price of $34.13. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80.

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HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. As a group, analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.99%. HP's dividend payout ratio is currently 41.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HPQ. Loop Capital lowered their target price on HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Sanford C. Bernstein boosted their target price on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. StockNews.com upgraded shares of HP from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. Finally, Barclays increased their price objective on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, HP currently has an average rating of "Hold" and an average target price of $36.14.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares of the company's stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.38% of the company's stock.

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.