Twinbeech Capital LP Purchases New Shares in HP Inc. (NYSE:HPQ)

by · The Cerbat Gem

Twinbeech Capital LP purchased a new stake in HP Inc. (NYSE:HPQ – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 25,642 shares of the computer maker’s stock, valued at approximately $837,000.

Several other large investors have also added to or reduced their stakes in HPQ. Barclays PLC boosted its holdings in HP by 8.7% in the third quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock valued at $82,772,000 after acquiring an additional 183,741 shares in the last quarter. Advisory Alpha LLC boosted its holdings in HP by 9.6% in the fourth quarter. Advisory Alpha LLC now owns 11,922 shares of the computer maker’s stock valued at $389,000 after acquiring an additional 1,047 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in HP by 10.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 235,697 shares of the computer maker’s stock valued at $7,691,000 after acquiring an additional 22,139 shares in the last quarter. Donoghue Forlines LLC bought a new stake in HP in the fourth quarter valued at $1,475,000. Finally, Montecito Bank & Trust boosted its holdings in HP by 3.1% in the fourth quarter. Montecito Bank & Trust now owns 27,997 shares of the computer maker’s stock valued at $914,000 after acquiring an additional 853 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

HP Price Performance

HPQ opened at $28.66 on Thursday. The stock has a 50-day moving average price of $26.17 and a 200-day moving average price of $31.17. The firm has a market cap of $27.02 billion, a PE ratio of 10.20, a P/E/G 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 – Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, June 11th. HP’s dividend payout ratio is presently 41.37%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays lifted their price target on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Morgan Stanley boosted their target price on shares of HP from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup boosted their target price on shares of HP from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Evercore ISI dropped their target price on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, HP presently has an average rating of “Hold” and an average target price of $33.67.

Check Out Our Latest Analysis on HPQ

HP Profile

(Free Report)

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.

Further Reading

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