Kendall Capital Management Has $3.75 Million Position in HP Inc. (NYSE:HPQ)

Kendall Capital Management grew its stake in HP Inc. (NYSE:HPQ) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,758 shares of the computer maker’s stock after purchasing an additional 7,898 shares during the period. HP comprises approximately 1.1% of Kendall Capital Management’s investment portfolio, making the stock its 23rd largest position. Kendall Capital Management’s holdings in HP were worth $3,745,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HPQ. Ashton Thomas Securities LLC acquired a new stake in shares of HP in the 3rd quarter valued at approximately $25,000. Synergy Asset Management LLC acquired a new stake in HP during the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in HP during the 4th quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in HP during the 3rd quarter worth approximately $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP during the 3rd quarter worth approximately $44,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Up 2.0 %

Shares of HPQ stock opened at $30.56 on Friday. The firm has a market capitalization of $28.80 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The firm has a fifty day simple moving average of $32.76 and a two-hundred day simple moving average of $34.65. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion during 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%. On average, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is 41.37%.

Analyst Ratings Changes

HPQ has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Wells Fargo & Company raised their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Sanford C. Bernstein raised their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.14.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 262,737 shares of company stock valued at $9,316,641 in the last three months. 0.38% of the stock is currently owned by insiders.

HP 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.