Brooklyn FI LLC Takes $9.16 Million Position in HP Inc. (NYSE:HPQ)

Brooklyn FI LLC acquired a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 254,928 shares of the computer maker's stock, valued at approximately $9,162,000. HP makes up approximately 1.5% of Brooklyn FI LLC's investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. West Paces Advisors Inc. boosted its stake in shares of HP by 3.2% in the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker's stock worth $314,000 after buying an additional 298 shares during the last quarter. TIAA Trust National Association lifted its stake in HP by 1.8% in the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock valued at $548,000 after purchasing an additional 302 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in HP by 2.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock valued at $374,000 after purchasing an additional 306 shares during the last quarter. Auxano Advisors LLC lifted its stake in HP by 3.7% in the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock valued at $282,000 after purchasing an additional 310 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its position in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock worth $400,000 after acquiring an additional 319 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

HP Stock Down 0.3%

Shares of HP stock traded down $0.07 during trading on Friday, reaching $24.88. 16,291,226 shares of the stock were exchanged, compared to its average volume of 7,912,801. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The stock's fifty day moving average is $25.95 and its 200 day moving average is $30.69. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. During the same period in the prior year, the business posted $0.82 EPS. HP's revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts forecast 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, July 2nd. Investors of record on Wednesday, June 11th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 dividend on an annualized basis and a yield of 4.65%. HP's payout ratio is currently 41.37%.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company's stock, valued at approximately $4,814.81. This trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HPQ shares. Barclays set a $28.00 target price on HP and gave the stock an "equal weight" rating in a research report on Thursday. Bank of America dropped their target price on HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday. KGI Securities started coverage on HP in a research report on Thursday. They set a "neutral" rating on the stock. Finally, Loop Capital dropped their target price on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $29.54.

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.