GAMMA Investing LLC Buys 420,981 Shares of HP Inc. (NYSE:HPQ)

GAMMA Investing LLC boosted its stake in HP Inc. (NYSE:HPQ) by 3,307.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 433,708 shares of the computer maker’s stock after purchasing an additional 420,981 shares during the period. GAMMA Investing LLC’s holdings in HP were worth $120,090,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of HPQ. West Paces Advisors Inc. boosted its position in HP by 3.2% during the 4th quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after buying an additional 298 shares during the period. TIAA Trust National Association boosted its position in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after buying an additional 302 shares during the period. HBK Sorce Advisory LLC boosted its position in 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 buying an additional 306 shares during the period. Auxano Advisors LLC boosted its position in HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after buying an additional 310 shares during the period. Finally, Pinnacle Financial Partners Inc boosted its position in HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $453,734.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated 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 directly owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HPQ shares. Loop Capital dropped their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Bank of America decreased their price objective on shares of HP from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. JPMorgan Chase & Co. decreased their price objective on shares of HP from $30.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday. Citigroup decreased their price objective on shares of HP from $29.00 to $27.50 and set a “neutral” rating for the company in a report on Thursday. Finally, Morgan Stanley decreased their price objective on shares of HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, HP has a consensus rating of “Hold” and a consensus price target of $29.54.

HP Price Performance

Shares of HP stock opened at $24.88 on Monday. The company has a 50-day moving average of $25.95 and a 200 day moving average of $30.61. The firm has a market cap of $23.45 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 2.96 and a beta of 1.32. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, equities analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 annualized dividend and a dividend yield of 4.65%. HP’s payout ratio is 44.40%.

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.