Mystic Asset Management Inc. Takes Position in HP Inc. (NYSE:HPQ)

Mystic Asset Management Inc. acquired a new stake in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,784 shares of the computer maker’s stock, valued at approximately $287,000.

Other hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of HP during the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP during the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the 3rd quarter valued at about $40,000. OFI Invest Asset Management acquired a new stake in HP in the 4th quarter valued at approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP in the 3rd quarter valued at approximately $44,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Down 0.8 %

Shares of HPQ stock opened at $28.68 on Wednesday. The stock has a 50 day moving average of $32.16 and a two-hundred day moving average of $34.32. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80. The company has a market capitalization of $27.04 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com raised HP from a “hold” rating to a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. TD Cowen lowered their target price on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Loop Capital lowered 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.14.

HP Company 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.