7,170 Shares in HP Inc. (NYSE:HPQ) Purchased by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in HP Inc. (NYSE:HPQ) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 7,170 shares of the computer maker’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HPQ. Rosenberg Matthew Hamilton lifted its stake in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in HP during the fourth quarter worth $28,000. Janiczek Wealth Management LLC grew its holdings in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after acquiring an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in HP during the fourth quarter worth $34,000. Finally, Salem Investment Counselors Inc. grew its holdings in HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after acquiring an additional 380 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ stock opened at $28.13 on Friday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The stock has a market cap of $27.59 billion, a PE ratio of 8.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05. The business’s fifty day moving average is $29.28 and its 200-day moving average is $28.83.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $0.75 EPS. Equities research analysts predict that HP Inc. will post 3.42 earnings per share for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s payout ratio is 32.16%.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent research reports. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. HSBC upgraded HP from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. Finally, Barclays increased their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $33.11.

Insider Buying and Selling

In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock worth $3,479,287 in the last three months. 0.41% of the stock is currently owned by insiders.

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.