NewEdge Advisors LLC Has $8.41 Million Holdings in HP Inc. (NYSE:HPQ)

NewEdge Advisors LLC raised its position in HP Inc. (NYSE:HPQ) by 0.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 257,842 shares of the computer maker’s stock after purchasing an additional 1,324 shares during the period. NewEdge Advisors LLC’s holdings in HP were worth $8,413,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of HPQ. Norges Bank acquired a new position in shares of HP in the 4th quarter valued at about $229,320,000. KBC Group NV increased its holdings in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in HP in the fourth quarter worth approximately $65,260,000. Bridgewater Associates LP lifted its stake in HP by 115.2% in the fourth quarter. Bridgewater Associates LP now owns 2,837,252 shares of the computer maker’s stock valued at $92,580,000 after buying an additional 1,518,653 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of HP during the 4th quarter worth approximately $36,492,000. 77.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the subject of several research analyst reports. Barclays lifted their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. TD Cowen cut their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company upped their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Citigroup decreased their price objective on HP from $36.50 to $25.00 and set a “neutral” rating for the company in a report on Monday. Finally, StockNews.com downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $34.00.

Insider Buying and Selling

In related news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

HP Price Performance

Shares of HPQ stock opened at $23.77 on Friday. The firm has a 50-day moving average of $28.75 and a 200-day moving average of $32.82. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The company has a market cap of $22.41 billion, a P/E ratio of 8.46, a P/E/G ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.87%. HP’s payout ratio is currently 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.