Quantessence Capital LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Quantessence Capital LLC bought a new position in HP Inc. (NYSE:HPQ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 39,090 shares of the computer maker's stock, valued at approximately $1,276,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of HP in the fourth quarter worth $229,320,000. KBC Group NV increased its holdings in HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $116,031,000 after acquiring an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in HP in the 4th quarter worth $65,260,000. Bridgewater Associates LP grew its position in shares of HP by 115.2% during the fourth quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker's stock valued at $92,580,000 after purchasing an additional 1,518,653 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of HP in the fourth quarter worth about $36,492,000. 77.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

HP Stock Performance

Shares of HPQ stock opened at $23.82 on Tuesday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The firm has a market capitalization of $22.46 billion, a PE ratio of 8.48, a P/E/G ratio of 2.96 and a beta of 1.09. The stock's 50-day simple moving average is $28.38 and its 200-day simple moving average is $32.62.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. Sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.86%. HP's dividend payout ratio is presently 41.37%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. StockNews.com lowered HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. JPMorgan Chase & Co. cut their price objective on shares of HP from $40.00 to $29.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Loop Capital reduced their price target on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Finally, Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $34.00.

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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