Meridiem Capital Partners LP Invests $6.04 Million in HP Inc. (NYSE:HPQ)

Meridiem Capital Partners LP bought a new stake in HP Inc. (NYSE:HPQ - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 185,127 shares of the computer maker's stock, valued at approximately $6,041,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in shares of HP in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP in the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP during the fourth quarter worth approximately $36,000. OFI Invest Asset Management acquired a new position in shares of HP in the 4th quarter valued at $37,000. Finally, CoreCap Advisors LLC raised its position in HP by 71.9% in the 4th 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 during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction 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 sale, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction on 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 owned by company insiders.

HP Stock Performance

HP stock traded up $0.56 during midday trading on Friday, reaching $29.34. The company's stock had a trading volume of 7,798,710 shares, compared to its average volume of 7,881,063. The firm has a market capitalization of $27.65 billion, a PE ratio of 10.44, a P/E/G ratio of 2.96 and a beta of 1.32. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The stock's 50 day simple moving average is $26.12 and its 200 day simple moving average is $31.37.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. Equities analysts predict 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 dividend of $0.2894 per share. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 annualized dividend and a yield of 3.95%. HP's dividend payout ratio is presently 41.37%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HPQ shares. Citigroup raised their price objective on shares of HP from $25.00 to $29.00 and gave the stock a "neutral" rating in a research report on Friday. Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Loop Capital reduced their price objective on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. TD Cowen lowered their target price on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Finally, Evercore ISI dropped their target price on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $34.17.

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.