Quarry LP Grows Stake in HP Inc. (NYSE:HPQ)

Quarry LP increased its holdings in HP Inc. (NYSE:HPQ) by 182.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,146 shares of the computer maker’s stock after purchasing an additional 2,679 shares during the period. Quarry LP’s holdings in HP were worth $135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TIAA Trust National Association boosted its position in shares of HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after acquiring an additional 302 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after purchasing an additional 306 shares during the last quarter. Auxano Advisors LLC grew its position in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after purchasing an additional 310 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of HP by 2.6% in the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after purchasing an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its position in shares of HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after buying an additional 319 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Citigroup lowered their price objective on shares of HP from $36.50 to $25.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Wells Fargo & Company boosted their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Sanford C. Bernstein increased their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.83.

HP Trading Up 0.4 %

NYSE:HPQ opened at $25.39 on Tuesday. The company has a market cap of $23.94 billion, a price-to-earnings ratio of 9.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The stock has a fifty day simple moving average of $27.48 and a 200-day simple moving average of $32.22.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.56%. HP’s dividend payout ratio is currently 41.37%.

Insider Activity at HP

In other news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.