Aegis Wealth Management LLC Makes New $261,000 Investment in HP Inc. (NYSE:HPQ)

Aegis Wealth Management LLC acquired a new position in HP Inc. (NYSE:HPQ) during the 4th quarter, HoldingsChannel reports. The fund acquired 7,985 shares of the computer maker’s stock, valued at approximately $261,000.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new position in shares of HP in the fourth quarter worth $229,320,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of HP in the 4th quarter worth approximately $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in HP during the 4th quarter valued at approximately $63,612,000. Northern Trust Corp boosted its stake in HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after acquiring an additional 1,755,942 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC bought a new position in HP in the 4th quarter worth about $55,915,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HPQ shares. Citigroup upped their price target on HP from $25.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. TD Cowen decreased their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, Evercore ISI reduced their target price on HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $33.67.

Insider Transactions at HP

In other HP news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was 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 trade represents a 99.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

HP Stock Performance

NYSE HPQ opened at $28.34 on Wednesday. The business has a fifty day moving average price of $26.13 and a 200 day moving average price of $30.89. The company has a market cap of $26.72 billion, a P/E ratio of 10.09, a P/E/G ratio of 2.96 and a beta of 1.32. HP Inc. has a one year low of $21.21 and a one year high of $39.80.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 annualized dividend and a dividend yield of 4.08%. HP’s dividend payout ratio (DPR) is 41.37%.

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.