Mystic Asset Management Inc. purchased a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,784 shares of the computer maker's stock, valued at approximately $287,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in HP in the 4th quarter worth about $26,000. Stonebridge Financial Group LLC bought a new stake in shares of HP during the 4th quarter valued at about $31,000. OFI Invest Asset Management bought a new stake in shares of HP during the 4th quarter valued at about $37,000. Itau Unibanco Holding S.A. bought a new stake in shares of HP during the 3rd quarter valued at about $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of HP during the 3rd quarter valued at about $44,000. Institutional investors own 77.53% of the company's stock.
HP Price Performance
HP stock traded up $0.12 during trading hours on Friday, reaching $28.63. The company had a trading volume of 23,907,554 shares, compared to its average volume of 7,176,088. The company has a 50-day moving average price of $31.88 and a 200 day moving average price of $34.18. The firm has a market cap of $26.98 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80.
HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts' consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.35 billion. As a group, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.
HP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. HP's dividend payout ratio (DPR) is presently 41.37%.
Insider Activity
In related news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on HPQ shares. TD Cowen dropped their price target on HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Morgan Stanley decreased their price objective on HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Barclays raised their price objective on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Citigroup decreased their price objective on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $36.14.
Check Out Our Latest Analysis on HP
HP Company Profile
(
Free Report)
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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