Kennondale Capital Management LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Kennondale Capital Management LLC purchased a new stake in HP Inc. (NYSE:HPQ) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 29,286 shares of the computer maker’s stock, valued at approximately $956,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP in the fourth quarter worth about $31,000. OFI Invest Asset Management acquired a new stake in shares of HP in the 4th quarter valued at approximately $37,000. Itau Unibanco Holding S.A. bought a new stake in shares of HP during the 3rd quarter valued at approximately $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in HP during the 3rd quarter worth approximately $44,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Sanford C. Bernstein increased their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Loop Capital reduced their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Finally, Citigroup dropped their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $36.14.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s 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 completion of the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.38% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $28.91 on Tuesday. The company’s 50 day moving average price is $32.26 and its 200-day moving average price is $34.37. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The company has a market capitalization of $27.25 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (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 business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. Analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.00%. HP’s payout ratio is currently 41.37%.

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.