Tower Research Capital LLC TRC Boosts Holdings in HP Inc. (NYSE:HPQ)

Tower Research Capital LLC TRC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 125.7% in the fourth quarter, Holdings Channel reports. The firm owned 75,300 shares of the computer maker’s stock after buying an additional 41,942 shares during the period. Tower Research Capital LLC TRC’s holdings in HP were worth $2,457,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in HP in the 4th quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP in the fourth quarter valued at approximately $31,000. OFI Invest Asset Management purchased a new stake in shares of HP during the fourth quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new position in HP in the 4th quarter valued at $50,000. Finally, Summit Securities Group LLC acquired a new stake in HP during the 4th quarter worth $55,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Morgan Stanley dropped their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on HP from $40.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Sanford C. Bernstein lifted their price target 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 price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $34.00.

HP Trading Down 0.0 %

NYSE:HPQ opened at $23.82 on Tuesday. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The firm has a market cap of $22.46 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The stock has a fifty day moving average price of $28.38 and a 200 day moving average price of $32.62.

HP (NYSE:HPQ) last posted its earnings results 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 negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. Equities analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

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.