Quarry LP Raises Position in HP Inc. (NYSE:HPQ)

Quarry LP increased its holdings in shares of HP Inc. (NYSE:HPQ) by 182.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,146 shares of the computer maker’s stock after purchasing an additional 2,679 shares during the period. Quarry LP’s holdings in HP were worth $135,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TIAA Trust National Association increased its holdings in shares of HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after acquiring an additional 302 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC grew its position in HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after purchasing an additional 310 shares during the last quarter. Wedmont Private Capital increased its stake in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after purchasing an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after buying an additional 319 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Price Performance

NYSE HPQ opened at $25.39 on Tuesday. The stock’s 50 day simple moving average is $27.48 and its 200-day simple moving average is $32.22. The company has a market cap of $23.94 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80.

HP (NYSE:HPQ) last announced its 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 company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend was Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HPQ shares. Barclays raised their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Citigroup dropped their target price on HP from $36.50 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. StockNews.com lowered shares of HP from a “buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, Morgan Stanley dropped their price objective on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, HP currently has an average rating of “Hold” and an average target price of $33.83.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now owns 169 shares of the company’s stock, valued at $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

HP 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.