HP Inc. (NYSE:HPQ) Shares Purchased by Redwood Investment Management LLC

Redwood Investment Management LLC increased its stake in HP Inc. (NYSE:HPQ) by 295.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,080 shares of the computer maker’s stock after purchasing an additional 160,686 shares during the period. HP accounts for about 0.7% of Redwood Investment Management LLC’s portfolio, making the stock its 17th largest position. Redwood Investment Management LLC’s holdings in HP were worth $7,018,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of HPQ. Synergy Asset Management LLC acquired a new stake in shares of HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP in the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in HP in the 4th quarter worth $36,000. OFI Invest Asset Management acquired a new stake in HP during the 4th quarter worth about $37,000. Finally, CoreCap Advisors LLC lifted its position in HP by 71.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock worth $46,000 after acquiring an additional 587 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP 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 owns 169 shares in the company, valued at approximately $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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Evercore ISI dropped their target price on HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. TD Cowen reduced their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Barclays lifted their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of HP from $40.00 to $29.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. One investment 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 MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.83.

HP Price Performance

HPQ opened at $28.60 on Thursday. The firm has a fifty day moving average price of $26.15 and a 200 day moving average price of $31.43. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The stock has a market cap of $26.96 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting 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. Equities analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.05%. HP’s payout ratio is currently 41.37%.

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.