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

Edgestream Partners L.P. acquired a new position in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, according to 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.

Several other institutional investors have also made changes to their positions in HPQ. State Street Corp lifted its stake 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 purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC raised its holdings 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 worth $885,877,000 after buying an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of 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 buying an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in HP by 7.7% in 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 valued at $307,816,000 after buying an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 90,606 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

HPQ stock opened at $30.56 on Monday. The stock has a market capitalization of $28.80 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The company has a 50 day moving average price of $32.76 and a 200 day moving average price of $34.65. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79.

HP (NYSE:HPQ) last issued its quarterly 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. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, equities analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is 41.37%.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction 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 approximately $204,002.50. The trade was a 63.67 % 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 Kristen M. Ludgate sold 74,356 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. The trade was a 56.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,643 shares of company stock valued at $4,319,565 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HPQ. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Sanford C. Bernstein lifted their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Barclays upped their price objective on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. TD Cowen cut their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Loop Capital decreased their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.14.

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.