Tidal Investments LLC Buys 56,429 Shares of HP Inc. (NYSE:HPQ)

Tidal Investments LLC lifted its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,037 shares of the computer maker's stock after acquiring an additional 56,429 shares during the period. Tidal Investments LLC's holdings in HP were worth $6,625,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

HPQ has been the topic of a number of research analyst reports. Evercore ISI decreased 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. Citigroup increased their price target on shares of HP from $25.00 to $29.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. reduced their target price 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.67.

HP Price Performance

HP stock traded down $0.12 during trading hours on Thursday, reaching $28.49. The stock had a trading volume of 5,729,361 shares, compared to its average volume of 7,888,214. The stock has a market cap of $26.86 billion, a PE ratio of 10.14, a PEG ratio of 2.96 and a beta of 1.32. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80. The company has a fifty day simple moving average of $26.17 and a 200-day simple moving average of $31.17.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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%. Research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's dividend payout ratio (DPR) is presently 41.37%.

Insiders Place Their Bets

In other news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

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.