Longfellow Investment Management Co. LLC Invests $627,000 in HP Inc. (NYSE:HPQ)

Longfellow Investment Management Co. LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,635 shares of the computer maker’s stock, valued at approximately $627,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HPQ. FIL Ltd raised its position in shares of HP by 75.9% during the 4th quarter. FIL Ltd now owns 15,920 shares of the computer maker’s stock worth $519,000 after purchasing an additional 6,870 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of HP during the 4th quarter worth approximately $36,492,000. Bessemer Group Inc. increased its position in HP by 0.8% in the 4th quarter. Bessemer Group Inc. now owns 104,753 shares of the computer maker’s stock valued at $3,419,000 after acquiring an additional 863 shares during the period. Sterling Capital Management LLC increased its position in HP by 24.2% in the 4th quarter. Sterling Capital Management LLC now owns 75,066 shares of the computer maker’s stock valued at $2,449,000 after acquiring an additional 14,648 shares during the period. Finally, Rockefeller Capital Management L.P. increased its position in HP by 28.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 97,278 shares of the computer maker’s stock valued at $3,172,000 after acquiring an additional 21,646 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company lowered their target price on HP from $35.00 to $25.00 and set an “underweight” rating on the stock in a research report on Thursday, May 29th. Barclays set a $28.00 target price on HP and gave the company an “equal weight” rating in a research report on Thursday, May 29th. JPMorgan Chase & Co. lowered their target price on HP from $30.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. TD Cowen lowered their target price on HP from $38.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Finally, Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.54.

HP Stock Up 3.0%

HPQ opened at $26.11 on Monday. The firm has a market cap of $24.52 billion, a PE ratio of 10.08, a P/E/G ratio of 2.11 and a beta of 1.29. The business has a fifty day simple moving average of $25.05 and a 200-day simple moving average of $27.32. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. On average, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is 44.79%.

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.