Quantessence Capital LLC Acquires Shares of 39,090 HP Inc. (NYSE:HPQ)

Quantessence Capital LLC acquired a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 39,090 shares of the computer maker's stock, valued at approximately $1,276,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of HP in the fourth quarter valued at about $229,320,000. KBC Group NV lifted its holdings in shares of HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after buying an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of HP in the fourth quarter valued at approximately $65,260,000. Bridgewater Associates LP boosted its position in shares of HP by 115.2% in the fourth quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker's stock valued at $92,580,000 after acquiring an additional 1,518,653 shares during the period. Finally, Raymond James Financial Inc. bought a new position in HP during the fourth quarter worth $36,492,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on HPQ. JPMorgan Chase & Co. reduced their price target 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. StockNews.com cut shares of HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Sanford C. Bernstein increased their price objective on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. Citigroup dropped their target price on HP from $36.50 to $25.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Loop Capital reduced their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $34.00.

HP Price Performance

HP stock traded down $0.05 during mid-day trading on Friday, hitting $25.28. 5,023,205 shares of the company's stock traded hands, compared to its average volume of 7,851,164. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of 2.96 and a beta of 1.09. The firm has a 50 day simple moving average of $27.67 and a two-hundred day simple moving average of $32.33.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion during 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%. On average, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend was Wednesday, March 12th. HP's dividend payout ratio is 41.37%.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 15,646 shares of the firm's 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction 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 sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

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.