Altshuler Shaham Ltd Acquires 80,711 Shares of HP Inc. (NYSE:HPQ)

Altshuler Shaham Ltd lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 39.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 287,505 shares of the computer maker’s stock after buying an additional 80,711 shares during the period. HP makes up about 0.3% of Altshuler Shaham Ltd’s holdings, making the stock its 21st largest holding. Altshuler Shaham Ltd’s holdings in HP were worth $9,381,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HPQ. Synergy Asset Management LLC acquired a new position in HP during the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC bought a new stake in shares of HP during the 4th quarter worth approximately $31,000. OFI Invest Asset Management bought a new position in shares of HP in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. acquired a new position in HP during the fourth quarter worth $50,000. Finally, Summit Securities Group LLC bought a new stake in HP during the fourth quarter worth $55,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HPQ shares. Sanford C. Bernstein boosted their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. TD Cowen cut their price objective on 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 decreased their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Finally, StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.09.

HP Price Performance

HPQ stock opened at $23.47 on Thursday. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 2.96 and a beta of 1.09. The business’s fifty day moving average price is $28.93 and its two-hundred day moving average price is $32.90.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Research analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.93%. HP’s payout ratio is 41.37%.

Insider Buying and Selling

In related news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company’s stock, valued at $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred 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. 0.38% of the stock is currently owned by company insiders.

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.