Bessemer Group Inc. Increases Stock Position in HP Inc. (NYSE:HPQ)

Bessemer Group Inc. grew its position in shares of HP Inc. (NYSE:HPQ) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,753 shares of the computer maker’s stock after purchasing an additional 863 shares during the period. Bessemer Group Inc.’s holdings in HP were worth $3,419,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in HP in the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP in the fourth quarter valued at $31,000. OFI Invest Asset Management bought a new stake in HP in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new stake in HP during the fourth quarter valued at $50,000. Finally, Summit Securities Group LLC bought a new position in HP during the fourth quarter valued at $55,000. 77.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent research reports. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. TD Cowen decreased their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. StockNews.com cut HP from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Barclays increased their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Finally, Loop Capital dropped their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.14.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

HP Trading Up 2.4 %

Shares of HPQ opened at $23.42 on Friday. The firm has a fifty day moving average price of $29.45 and a 200-day moving average price of $33.13. The firm has a market capitalization of $22.08 billion, a P/E ratio of 8.34, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $13.35 billion. Analysts predict 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 was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend was Wednesday, March 12th. HP’s dividend payout ratio is 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.