Donoghue Forlines LLC Invests $1.48 Million in HP Inc. (NYSE:HPQ)

Donoghue Forlines LLC acquired a new stake in shares of HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 45,206 shares of the computer maker’s stock, valued at approximately $1,475,000.

A number of other hedge funds also recently bought and sold shares of HPQ. State Street Corp lifted its position in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after acquiring an additional 2,477,977 shares during the last quarter. DME Capital Management LP grew its holdings in shares of HP by 108.7% in the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the period. Pacer Advisors Inc. raised its stake in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares during the period. Finally, Bridgewater Associates LP boosted its holdings in HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after purchasing an additional 1,270,642 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HPQ. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. TD Cowen upped their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $36.23.

Insider Buying and Selling at HP

In other news, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 over the last three months. Insiders own 0.41% of the company’s stock.

HP Stock Down 0.0 %

Shares of NYSE:HPQ opened at $33.13 on Thursday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The stock has a market cap of $31.06 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.81 and a beta of 1.05. The firm’s 50 day moving average price is $34.53 and its 200 day moving average price is $35.31.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 annualized dividend and a yield of 3.49%. HP’s payout ratio is presently 41.28%.

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.