Summit Securities Group LLC Acquires New Shares in HP Inc. (NYSE:HPQ)

Summit Securities Group LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, Holdings Channel.com reports. The firm purchased 1,700 shares of the computer maker’s stock, valued at approximately $55,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in shares of HP in the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in HP in the fourth quarter valued at approximately $31,000. OFI Invest Asset Management bought a new stake in HP in the fourth quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the 3rd quarter worth $40,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of HP during the 4th quarter valued at $50,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HP

In other news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The shares were 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 in the company, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

HP Price Performance

NYSE:HPQ opened at $27.90 on Monday. The stock has a market cap of $26.30 billion, a P/E ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. The company has a fifty day moving average price of $31.48 and a 200 day moving average price of $33.98. HP Inc. has a one year low of $27.43 and a one year high of $39.80.

HP (NYSE:HPQ) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate 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 analysts’ expectations of $13.35 billion. As a group, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is presently 41.37%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein upped their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. 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. Barclays raised their price objective on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Finally, Loop Capital reduced their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $36.14.

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.