Stevens Capital Management LP purchased a new stake in shares of HP Inc. (NYSE:HPQ - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 22,237 shares of the computer maker's stock, valued at approximately $726,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Synergy Asset Management LLC bought a new position in HP in the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP in the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the 3rd quarter worth about $40,000. OFI Invest Asset Management bought a new stake in HP during the 4th quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP in the 3rd quarter valued at approximately $44,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.
HP Stock Down 0.8 %
NYSE:HPQ traded down $0.22 during trading hours on Tuesday, reaching $28.78. The company had a trading volume of 6,053,658 shares, compared to its average volume of 7,179,394. The stock has a 50-day moving average of $31.80 and a two-hundred day moving average of $34.13. HP Inc. has a one year low of $27.43 and a one year high of $39.80. The firm has a market capitalization of $27.13 billion, a PE ratio of 10.24, a PEG ratio of 2.96 and a beta of 1.09.
HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, sell-side analysts expect that HP Inc. will post 3.56 earnings per share for the current year.
HP Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's dividend payout ratio is 41.37%.
Insider Buying and Selling at HP
In related news, insider Stephanie Liebman sold 11,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on HPQ shares. HSBC cut HP from a "buy" rating to a "hold" rating and reduced their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Barclays boosted their price objective on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Wells Fargo & Company increased their target price on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, Hsbc Global Res downgraded HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, HP has an average rating of "Hold" and an average target price of $36.14.
Read Our Latest Analysis on HP
About HP
(
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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