Barnett & Company Inc. Raises Stake in HP Inc. (NYSE:HPQ)

Barnett & Company Inc. lifted its position in shares of HP Inc. (NYSE:HPQ) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,008 shares of the computer maker’s stock after buying an additional 458 shares during the quarter. HP comprises 2.2% of Barnett & Company Inc.’s holdings, making the stock its 13th biggest position. Barnett & Company Inc.’s holdings in HP were worth $3,329,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. United Services Automobile Association boosted its holdings in shares of HP by 0.4% during the fourth quarter. United Services Automobile Association now owns 199,976 shares of the computer maker’s stock worth $6,525,000 after purchasing an additional 881 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in HP by 10.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 12,770 shares of the computer maker’s stock worth $417,000 after buying an additional 1,199 shares during the last quarter. Stevens Capital Management LP purchased a new stake in HP in the 4th quarter valued at about $726,000. LPL Financial LLC increased its stake in shares of HP by 6.4% during the 4th quarter. LPL Financial LLC now owns 415,970 shares of the computer maker’s stock valued at $13,573,000 after acquiring an additional 25,169 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of HP during the 4th quarter worth about $16,285,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $28.63 on Monday. The company’s fifty day moving average price is $31.88 and its two-hundred day moving average price is $34.17. The firm has a market capitalization of $26.98 billion, a P/E ratio of 10.19, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. On average, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HPQ shares. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Citigroup lowered their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, TD Cowen dropped their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.14.

About HP

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.