Highland Capital Management LP acquired a new stake in HP Inc (NYSE:HPQ) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 10,000 shares of the computer maker’s stock, valued at approximately $210,000.
A number of other large investors have also recently made changes to their positions in the stock. Advisors Preferred LLC grew its stake in shares of HP by 1,153.0% during the fourth quarter. Advisors Preferred LLC now owns 4,774 shares of the computer maker’s stock worth $100,000 after buying an additional 4,393 shares during the last quarter. Sandy Spring Bank grew its stake in shares of HP by 439.8% during the fourth quarter. Sandy Spring Bank now owns 5,236 shares of the computer maker’s stock worth $110,000 after buying an additional 4,266 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of HP during the fourth quarter worth $111,000. Valeo Financial Advisors LLC grew its stake in shares of HP by 159.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,534 shares of the computer maker’s stock worth $137,000 after buying an additional 4,011 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA grew its stake in shares of HP by 188.3% during the third quarter. San Francisco Sentry Investment Group CA now owns 8,057 shares of the computer maker’s stock worth $161,000 after buying an additional 5,262 shares during the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
HP Inc (NYSE:HPQ) opened at $24.65 on Friday. HP Inc has a fifty-two week low of $17.03 and a fifty-two week high of $24.75. The firm has a market cap of $40,459.87, a PE ratio of 10.76, a PEG ratio of 2.14 and a beta of 1.69. The company has a current ratio of 0.91, a quick ratio of 0.67 and a debt-to-equity ratio of -2.31.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 14th will be issued a dividend of $0.1393 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 annualized dividend and a dividend yield of 2.26%. HP’s dividend payout ratio is currently 24.45%.
A number of analysts have weighed in on the stock. ValuEngine cut shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley cut shares of HP from an “overweight” rating to an “equal weight” rating and set a $25.00 target price on the stock. in a research note on Tuesday, January 23rd. Loop Capital reaffirmed a “buy” rating and set a $28.00 target price on shares of HP in a research note on Monday, January 22nd. Zacks Investment Research cut shares of HP from a “hold” rating to a “sell” rating in a research note on Thursday, January 25th. Finally, Citigroup boosted their target price on shares of HP from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.94.
In other news, insider Marie Myers sold 10,000 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total transaction of $215,500.00. Following the completion of the sale, the insider now directly owns 21,966 shares of the company’s stock, valued at $473,367.30. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Jon E. Flaxman sold 207,806 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $21.58, for a total transaction of $4,484,453.48. Following the sale, the chief operating officer now directly owns 298,538 shares of the company’s stock, valued at $6,442,450.04. The disclosure for this sale can be found here. Insiders have sold 606,020 shares of company stock worth $13,597,644 in the last quarter. Company insiders own 0.25% of the company’s stock.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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