NewEdge Wealth LLC Purchases Shares of 12,104 HP Inc. (NYSE:HPQ)

NewEdge Wealth LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,104 shares of the computer maker’s stock, valued at approximately $364,000.

Several other hedge funds have also added to or reduced their stakes in the business. Whittier Trust Co. lifted its holdings in HP by 1.4% during the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after purchasing an additional 362 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of HP by 3.3% during the second quarter. Horizon Investments LLC now owns 12,002 shares of the computer maker’s stock worth $369,000 after buying an additional 379 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after buying an additional 380 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of HP by 18.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock worth $73,000 after buying an additional 382 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $27.69 on Thursday. HP Inc. has a 52 week low of $25.22 and a 52 week high of $33.90. The stock has a market capitalization of $27.16 billion, a P/E ratio of 8.10, a PEG ratio of 2.34 and a beta of 1.05. The stock’s fifty day moving average is $29.37 and its 200 day moving average is $28.78.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter last year, the business earned $0.75 earnings per share. HP’s revenue was down 4.4% on a year-over-year basis. Equities research analysts forecast that HP Inc. will post 3.42 earnings per share for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s dividend payout ratio is presently 32.16%.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of research reports. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Barclays lifted their target price on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Finally, HSBC raised HP from a “hold” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.11.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock worth $3,479,287 over the last 90 days. Insiders own 0.41% of the company’s stock.

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.