Trexquant Investment LP Invests $10.62 Million in HP Inc. (NYSE:HPQ)

Trexquant Investment LP purchased 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 institutional investor purchased 325,434 shares of the computer maker's stock, valued at approximately $10,619,000.

Several other hedge funds and other institutional investors have also modified their holdings of HPQ. Norges Bank purchased a new stake in shares of HP during the 4th quarter worth about $229,320,000. State Street Corp raised its position in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its stake in HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after acquiring an additional 2,477,977 shares during the last quarter. KBC Group NV grew its position in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after acquiring an additional 2,105,104 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of HP during the 4th quarter worth $65,260,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HPQ shares. Barclays increased 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. TD Cowen dropped their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Sanford C. Bernstein upped their price objective on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. Morgan Stanley lowered their target price on shares of 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, Wells Fargo & Company boosted their target price on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $36.14.

Remove Ads

HP Price Performance

NYSE:HPQ traded down $1.20 during trading hours on Friday, reaching $22.58. 22,862,599 shares of the company were exchanged, compared to its average volume of 7,599,953. The business has a 50 day moving average of $30.78 and a 200 day moving average of $33.72. HP Inc. has a 1-year low of $21.97 and a 1-year high of $39.80. The company has a market capitalization of $21.29 billion, a P/E ratio of 8.04, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly 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. 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, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 5.13%. HP's dividend payout ratio is 41.37%.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 15,646 shares of HP 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following 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 ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.