Range Financial Group LLC Purchases 17,386 Shares of HP Inc. (NYSE:HPQ)

Range Financial Group LLC boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 127.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,080 shares of the computer maker’s stock after acquiring an additional 17,386 shares during the period. Range Financial Group LLC’s holdings in HP were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Neville Rodie & Shaw Inc. increased its holdings in HP by 59.9% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 28,032 shares of the computer maker’s stock valued at $915,000 after buying an additional 10,500 shares during the period. Pensionfund Sabic boosted its position in HP by 41.3% during the 4th quarter. Pensionfund Sabic now owns 44,500 shares of the computer maker’s stock valued at $1,452,000 after acquiring an additional 13,000 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of HP by 8.5% in the 4th quarter. Nordea Investment Management AB now owns 1,429,573 shares of the computer maker’s stock valued at $46,733,000 after acquiring an additional 112,383 shares during the period. Old Port Advisors raised its position in shares of HP by 5.2% in the 4th quarter. Old Port Advisors now owns 10,116 shares of the computer maker’s stock worth $330,000 after acquiring an additional 504 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of HP by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after purchasing an additional 160,268 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on HPQ. Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Barclays increased their target price on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. TD Cowen lifted their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Citigroup decreased their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.23.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was 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 trade represents a 63.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by company insiders.

HP Trading Down 0.7 %

Shares of HPQ stock traded down $0.25 during trading hours on Tuesday, hitting $33.62. The company’s stock had a trading volume of 5,343,192 shares, compared to its average volume of 5,798,486. The stock has a market cap of $31.53 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The company has a 50 day moving average of $35.43 and a 200 day moving average of $35.50.

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

HP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were paid a $0.2894 dividend. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. The ex-dividend date was Wednesday, December 11th. HP’s payout ratio is currently 40.93%.

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.