Stonebridge Financial Group LLC Acquires New Shares in HP Inc. (NYSE:HPQ)

Stonebridge Financial Group LLC bought a new position in HP Inc. (NYSE:HPQ) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 951 shares of the computer maker’s stock, valued at approximately $31,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Essex Financial Services Inc. grew its stake in HP by 8.0% during the fourth quarter. Essex Financial Services Inc. now owns 12,958 shares of the computer maker’s stock valued at $423,000 after acquiring an additional 961 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of HP by 27.7% during the 4th quarter. Summit Trail Advisors LLC now owns 9,703 shares of the computer maker’s stock valued at $322,000 after purchasing an additional 2,105 shares in the last quarter. Bristlecone Advisors LLC bought a new position in shares of HP in the fourth quarter worth $324,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of HP in the fourth quarter worth $50,000. Finally, Savant Capital LLC boosted its stake in HP by 3.1% during the fourth quarter. Savant Capital LLC now owns 40,380 shares of the computer maker’s stock valued at $1,318,000 after buying an additional 1,230 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. TD Cowen boosted their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.23.

Insider Activity at HP

In other news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 in the last 90 days. Company insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $33.69 on Friday. The business has a 50-day moving average of $33.22 and a 200 day moving average of $34.85. The stock has a market capitalization of $31.59 billion, a PE ratio of 11.99, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. HP’s payout ratio is presently 41.28%.

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.