Sherbrooke Park Advisers LLC Invests $716,000 in HP Inc. (NYSE:HPQ)

Sherbrooke Park Advisers LLC bought a new stake in HP Inc. (NYSE:HPQ - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,952 shares of the computer maker's stock, valued at approximately $716,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of HP during the fourth quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new position in HP during the 4th quarter valued at about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in HP during the 4th quarter worth approximately $36,000. OFI Invest Asset Management purchased a new stake in shares of HP in the fourth quarter worth approximately $37,000. Finally, CoreCap Advisors LLC lifted its holdings in shares of HP by 71.9% in the fourth quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after purchasing an additional 587 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Performance

NYSE:HPQ traded down $0.32 during trading hours on Wednesday, reaching $28.66. The stock had a trading volume of 7,582,692 shares, compared to its average volume of 7,897,390. The stock has a market cap of $27.02 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. The stock has a 50 day simple moving average of $26.17 and a 200 day simple moving average of $31.18. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. On average, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Wednesday, June 11th. HP's dividend payout ratio (DPR) is currently 41.37%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HPQ shares. 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. Evercore ISI cut their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Wells Fargo & Company upped their price objective 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. StockNews.com raised shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, TD Cowen reduced their target price on HP from $39.00 to $38.00 and set a "hold" rating for the company in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, HP presently has an average rating of "Hold" and a consensus target price of $33.67.

Insider Activity at HP

In related news, 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 transaction of $613,817.05. Following the sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. This represents a 99.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate 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.