Northwest & Ethical Investments L.P. Purchases 29,080 Shares of HP Inc. (NYSE:HPQ)

Northwest & Ethical Investments L.P. lifted its position in HP Inc. (NYSE:HPQ) by 10.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 298,168 shares of the computer maker’s stock after buying an additional 29,080 shares during the period. Northwest & Ethical Investments L.P.’s holdings in HP were worth $9,729,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of HP in the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC purchased a new position in HP during the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new position in HP in the third quarter worth approximately $40,000. OFI Invest Asset Management purchased a new stake in HP during the fourth quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP during the 3rd quarter valued at $44,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Down 0.9 %

HP stock opened at $28.52 on Friday. HP Inc. has a 52 week low of $27.43 and a 52 week high of $39.80. The stock has a 50-day moving average price of $31.97 and a 200 day moving average price of $34.24. The company has a market capitalization of $26.88 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $13.50 billion during 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%. Research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HPQ. Wells Fargo & Company upped their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Sanford C. Bernstein raised their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, HP currently has an average rating of “Hold” and an average price target 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.