Byrne Asset Management LLC Buys New Holdings in HP Inc. (NYSE:HPQ)

Byrne Asset Management LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) in the 4th quarter, Holdings Channel reports. The firm purchased 7,650 shares of the computer maker’s stock, valued at approximately $250,000.

A number of other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in HP during the 3rd quarter worth about $25,000. Synergy Asset Management LLC acquired a new stake in shares of HP during the 4th quarter worth about $26,000. Wolff Wiese Magana LLC lifted its stake in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in HP in the third quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in HP in the third quarter valued at approximately $40,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on HPQ shares. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Barclays upped their price objective on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.23.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by company insiders.

HP Stock Performance

Shares of HP stock opened at $32.26 on Friday. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The company has a market cap of $30.25 billion, a P/E ratio of 11.48, a PEG ratio of 2.78 and a beta of 1.05. The firm has a fifty day moving average of $33.55 and a two-hundred day moving average of $35.00.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting 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 last year, the firm earned $0.90 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts predict 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, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.59%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is 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.