NewEdge Wealth LLC Makes New $364,000 Investment in HP Inc. (NYSE:HPQ)

NewEdge Wealth LLC bought a new position in HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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 stock. Mascoma Wealth Management LLC bought a new position in shares of HP during the third quarter valued at $25,000. 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 valued at $26,000 after purchasing an additional 397 shares in the last quarter. Certified Advisory Corp bought a new position in shares of HP during the first quarter valued at $26,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of HP during the fourth quarter valued at $28,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of HP during the third quarter valued at $32,000. 77.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock worth $3,479,287 over the last quarter. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

HP Stock Performance

HP stock opened at $27.69 on Thursday. The stock has a fifty day moving average of $29.37 and a 200 day moving average of $28.78. The stock has a market cap of $27.16 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. HP Inc. has a one year low of $25.22 and a one year high of $33.90.

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. The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, sell-side analysts predict that HP Inc. will post 3.42 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared 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 payout ratio is 32.16%.

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.