Redwood Investment Management LLC boosted its stake in HP Inc. (NYSE:HPQ - Free Report) by 295.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 215,080 shares of the computer maker's stock after buying an additional 160,686 shares during the period. HP accounts for 0.7% of Redwood Investment Management LLC's portfolio, making the stock its 17th biggest holding. Redwood Investment Management LLC's holdings in HP were worth $7,018,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently bought and sold shares of HPQ. Synergy Asset Management LLC acquired a new stake in HP in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in HP during the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in HP during the fourth quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in HP in the fourth quarter worth approximately $37,000. Finally, CoreCap Advisors LLC increased 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 buying an additional 587 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.
HP Price Performance
HP stock traded up $0.56 during trading hours on Friday, hitting $29.34. The company had a trading volume of 7,798,710 shares, compared to its average volume of 7,894,167. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The firm has a market capitalization of $27.65 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. The firm's fifty day moving average is $26.14 and its 200-day moving average is $31.28.
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 for the quarter, hitting analysts' consensus estimates of $0.74. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.
HP Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's payout ratio is presently 41.37%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Barclays lifted their target price on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. StockNews.com raised HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Loop Capital cut their price objective on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their target price on shares of HP from $40.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, 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. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $34.17.
Get Our Latest Analysis on HP
Insider Transactions at HP
In related news, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated 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 currently owned by corporate insiders.
HP Company Profile
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Free Report)
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.
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