BayBridge Capital Group LLC Invests $1.51 Million in HP Inc. (NYSE:HPQ)

BayBridge Capital Group LLC purchased a new position in HP Inc. (NYSE:HPQ - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 54,367 shares of the computer maker's stock, valued at approximately $1,505,000. HP comprises about 1.1% of BayBridge Capital Group LLC's holdings, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Stonebridge Financial Group LLC bought a new stake in HP in the fourth quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of HP in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new stake in HP in the 4th quarter valued at approximately $37,000. CoreCap Advisors LLC grew its stake 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 worth $46,000 after purchasing an additional 587 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of HP during the fourth quarter valued at $55,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Performance

HPQ traded down $0.15 during trading on Wednesday, reaching $24.15. The company had a trading volume of 8,657,654 shares, compared to its average volume of 7,853,759. The firm's 50-day simple moving average is $25.79 and its 200 day simple moving average is $29.64. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.99 and a beta of 1.30. 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 released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business's revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.82 earnings per share. On average, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Wednesday, September 10th. HP's dividend payout ratio (DPR) is presently 44.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HPQ. Evercore ISI cut their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Morgan Stanley dropped their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 29th. JPMorgan Chase & Co. decreased their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. KGI Securities started coverage on HP in a report on Thursday, May 29th. They set a "neutral" rating on the stock. Finally, Dbs Bank lowered HP from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $29.54.

Insider Buying and Selling

In other news, insider Anneliese Olson sold 21,545 shares of HP 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 transaction, the insider now owns 169 shares of the company's stock, valued at $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The stock was 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. 0.38% of the stock is owned by corporate insiders.

HP 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.