HP Inc. (NYSE:HPQ) Shares Purchased by Sterling Capital Management LLC

Sterling Capital Management LLC grew its stake in shares of HP Inc. (NYSE:HPQ) by 24.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,066 shares of the computer maker’s stock after purchasing an additional 14,648 shares during the quarter. Sterling Capital Management LLC’s holdings in HP were worth $2,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Synergy Asset Management LLC acquired a new stake in HP during the 4th quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP during the fourth quarter worth about $31,000. OFI Invest Asset Management purchased a new stake in shares of HP in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new position in HP during the 4th quarter worth approximately $50,000. Finally, Summit Securities Group LLC purchased a new position in HP during the 4th quarter worth approximately $55,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 15,646 shares of HP 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the company’s 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 completion of 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 position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

HP Stock Performance

NYSE:HPQ opened at $23.42 on Monday. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The stock has a fifty day moving average price of $29.45 and a two-hundred day moving average price of $33.11. The stock has a market capitalization of $22.08 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.96 and a beta of 1.09.

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

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.94%. The ex-dividend date was Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HPQ. StockNews.com cut shares of HP from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. Morgan Stanley reduced their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, HP currently has a consensus rating of “Hold” and an average target price of $36.14.

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.