Rockefeller Capital Management L.P. Purchases 21,646 Shares of HP Inc. (NYSE:HPQ)

Rockefeller Capital Management L.P. increased its holdings in shares of HP Inc. (NYSE:HPQ) by 28.6% during the 4th quarter, HoldingsChannel reports. The fund owned 97,278 shares of the computer maker’s stock after buying an additional 21,646 shares during the period. Rockefeller Capital Management L.P.’s holdings in HP were worth $3,172,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction 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 in the company, valued at $4,814.81. The trade was 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of HP from $36.50 to $25.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company upped their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley dropped their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on HP from $40.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Barclays boosted 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. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, HP has an average rating of “Hold” and an average price target of $34.00.

HP Price Performance

HPQ stock opened at $23.77 on Friday. The company has a market capitalization of $22.41 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80. The business has a 50 day simple moving average of $28.56 and a two-hundred day simple moving average of $32.74.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion during 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%. Sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

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