HP Inc. (NYSE:HPQ) Stake Boosted by Wexford Capital LP

Wexford Capital LP grew its stake in shares of HP Inc. (NYSE:HPQ) by 228.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,000 shares of the computer maker’s stock after acquiring an additional 16,000 shares during the period. Wexford Capital LP’s holdings in HP were worth $750,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its holdings in HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Amundi boosted its holdings in HP by 15.9% in the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after purchasing an additional 899,349 shares in the last quarter. Raymond James Financial Inc. bought a new stake in HP in the fourth quarter worth $36,492,000. Gotham Asset Management LLC boosted its holdings in HP by 23.6% in the fourth quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker’s stock worth $20,864,000 after purchasing an additional 122,289 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in HP by 4.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after purchasing an additional 18,557 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Price Performance

HPQ opened at $29.34 on Monday. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The company’s 50 day simple moving average is $26.14 and its 200-day simple moving average is $31.25. The stock has a market capitalization of $27.65 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. As a group, analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

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 paid a $0.2894 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.95%. HP’s payout ratio is presently 41.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen cut their target price 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. Loop Capital lowered their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Morgan Stanley lowered their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Barclays upped their target price 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, Wells Fargo & Company upped their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Hold” and an average price target of $34.17.

Insider Buying and Selling at HP

In other HP 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 sale, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The stock was 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. 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.