Meeder Asset Management Inc. Takes Position in HP Inc. (NYSE:HPQ)

Meeder Asset Management Inc. bought a new position in HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 8,108 shares of the computer maker’s stock, valued at approximately $265,000.

A number of other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC purchased a new position in HP in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in HP during the 4th quarter worth $31,000. OFI Invest Asset Management acquired a new stake in HP in the 4th quarter valued at $37,000. Itau Unibanco Holding S.A. purchased a new position in HP in the third quarter valued at about $40,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of HP in the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent research reports. StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Loop Capital cut their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company upped their price objective on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. TD Cowen dropped their target price on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Finally, Sanford C. Bernstein increased their price target on HP from $32.00 to $34.00 and gave the company 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 two have assigned a buy rating to the company’s stock. According to MarketBeat, HP has an average rating of “Hold” and an average price target of $36.14.

HP Trading Down 0.7 %

HPQ stock opened at $27.71 on Tuesday. The stock’s 50 day simple moving average is $31.38 and its 200 day simple moving average is $33.94. HP Inc. has a 12-month low of $27.30 and a 12-month high of $39.80. The firm has a market cap of $26.13 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.96 and a beta of 1.09.

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

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.37%.

Insider Buying and Selling at HP

In other news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction 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 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.