Tower Research Capital LLC TRC Boosts Stake in HP Inc. (NYSE:HPQ)

Tower Research Capital LLC TRC grew its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 125.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,300 shares of the computer maker's stock after buying an additional 41,942 shares during the quarter. Tower Research Capital LLC TRC's holdings in HP were worth $2,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. TIAA Trust National Association increased its stake in HP by 1.8% in the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after buying an additional 302 shares during the period. HBK Sorce Advisory LLC increased its holdings in HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock worth $374,000 after purchasing an additional 306 shares during the period. Auxano Advisors LLC lifted its holdings in shares of HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock worth $282,000 after buying an additional 310 shares during the period. Wedmont Private Capital grew its position in shares of HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker's stock worth $420,000 after buying an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its holdings in shares of HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock valued at $400,000 after acquiring an additional 319 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

HP Price Performance

Shares of HPQ stock opened at $23.82 on Tuesday. The business has a fifty day moving average of $28.38 and a 200 day moving average of $32.62. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The firm has a market capitalization of $22.46 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last released its 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 firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. As a group, equities 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 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 was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.86%. HP's dividend payout ratio is presently 41.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HPQ shares. Morgan Stanley reduced their price target on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. StockNews.com downgraded shares of HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Barclays increased their target price on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on HP from $40.00 to $29.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, TD Cowen dropped their price objective on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $34.00.

About HP

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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