6,605 Shares in HP Inc. (NYSE:HPQ) Bought by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. bought a new position in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,605 shares of the computer maker’s stock, valued at approximately $216,000.

Several other hedge funds have also modified their holdings of HPQ. State Street Corp boosted its position in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares during the period. Geode Capital Management LLC lifted its stake in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. DME Capital Management LP boosted its position in HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after acquiring an additional 1,757,070 shares during the period. Pacer Advisors Inc. grew its stake in HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. Finally, Bridgewater Associates LP increased its holdings in shares of HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after purchasing an additional 1,270,642 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Up 0.6 %

Shares of HP stock opened at $32.53 on Tuesday. The firm has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $35.35. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.83 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same period in the prior year, the company earned $0.90 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date was Wednesday, December 11th. HP’s dividend payout ratio is presently 41.28%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now directly owns 56,169 shares in the company, valued at $1,933,898.67. The trade was a 56.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 in the last ninety days. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on HPQ shares. Sanford C. Bernstein boosted their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. TD Cowen increased their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. dropped their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.23.

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.