Edgestream Partners L.P. Takes $2.33 Million Position in HP Inc. (NYSE:HPQ)

Edgestream Partners L.P. acquired a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 71,256 shares of the computer maker’s stock, valued at approximately $2,325,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC grew its position in shares of HP by 11.1% in 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 purchasing an additional 2,477,977 shares during the period. Pacer Advisors Inc. increased its stake in HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after purchasing an additional 592,391 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after buying an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in HP by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after buying an additional 90,606 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Stock Up 2.0 %

NYSE:HPQ opened at $30.56 on Monday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The stock’s 50 day moving average price is $32.76 and its two-hundred day moving average price is $34.65.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion for 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%. As a group, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 3.79%. HP’s payout ratio is 41.37%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Citigroup cut their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. Finally, HSBC cut 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 note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.14.

Insider Buying and Selling

In related news, insider Alex Cho sold 40,287 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. This represents a 38.38 % 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 firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,643 shares of company stock worth $4,319,565. Company insiders own 0.38% of the company’s stock.

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.