Quantessence Capital LLC Purchases New Stake in HP Inc. (NYSE:HPQ)

Quantessence Capital LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 39,090 shares of the computer maker’s stock, valued at approximately $1,276,000.

Several other large investors also recently added to or reduced their stakes in HPQ. State of Tennessee Department of Treasury boosted its holdings in HP by 93.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 272,109 shares of the computer maker’s stock valued at $8,879,000 after purchasing an additional 131,728 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in HP by 125.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 75,300 shares of the computer maker’s stock worth $2,457,000 after acquiring an additional 41,942 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of HP by 3.9% in the 4th quarter. MML Investors Services LLC now owns 64,933 shares of the computer maker’s stock valued at $2,119,000 after purchasing an additional 2,410 shares during the last quarter. Natixis increased its position in shares of HP by 108.5% during the 4th quarter. Natixis now owns 280,193 shares of the computer maker’s stock worth $9,143,000 after purchasing an additional 145,783 shares during the last quarter. Finally, Norinchukin Bank The lifted its position in HP by 4.9% in the fourth quarter. Norinchukin Bank The now owns 40,850 shares of the computer maker’s stock valued at $1,333,000 after buying an additional 1,910 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HPQ. Barclays increased 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. TD Cowen lowered their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Sanford C. Bernstein boosted their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. StockNews.com cut HP from a “buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Finally, Loop Capital decreased 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.00.

HP Stock Down 0.0 %

Shares of NYSE:HPQ opened at $23.82 on Tuesday. The company has a market cap of $22.46 billion, a P/E ratio of 8.48, a PEG ratio of 2.96 and a beta of 1.09. The company has a 50-day moving average price of $28.38 and a 200 day moving average price of $32.62. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

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 the consensus estimate of $0.74. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.