Brooklyn FI LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Brooklyn FI LLC bought a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 254,928 shares of the computer maker’s stock, valued at approximately $9,162,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. King Luther Capital Management Corp grew its position in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the period. HBK Sorce Advisory LLC increased its stake in HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC raised its holdings in HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after purchasing an additional 310 shares during the last quarter. Wedmont Private Capital boosted its position in HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after purchasing an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after purchasing an additional 319 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business’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 transaction of $357,500.00. Following the transaction, the insider now directly 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 SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

HP Price Performance

NYSE HPQ opened at $28.68 on Wednesday. The business’s 50-day simple moving average is $32.16 and its 200-day simple moving average is $34.32. The firm has a market capitalization of $27.04 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. On average, equities research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.37%.

Analysts Set New Price Targets

Several research firms recently commented on HPQ. Barclays boosted their price objective on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. 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 report on Friday, January 3rd. Finally, Morgan Stanley cut their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.14.

About HP

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.