54,367 Shares in HP Inc. (NYSE:HPQ) Bought by BayBridge Capital Group LLC

BayBridge Capital Group LLC bought a new stake in HP Inc. (NYSE:HPQ) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 54,367 shares of the computer maker’s stock, valued at approximately $1,505,000. HP comprises 1.1% of BayBridge Capital Group LLC’s portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. West Paces Advisors Inc. grew its position in HP by 3.2% in the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after acquiring an additional 298 shares during the last quarter. TIAA Trust National Association boosted its stake in shares of HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after purchasing an additional 302 shares in the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC boosted its stake in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after purchasing an additional 310 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its stake in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HPQ shares. Citigroup cut their price target on HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a research note on Thursday, May 29th. Barclays set a $28.00 price target on HP and gave the company an “equal weight” rating in a research note on Thursday, May 29th. Evercore ISI cut their price target on HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Loop Capital cut their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Finally, Wall Street Zen raised HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and an average target price of $29.54.

HP Stock Performance

Shares of HPQ opened at $23.85 on Friday. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80. The business’s 50 day moving average price is $25.73 and its two-hundred day moving average price is $29.79. The firm has a market cap of $22.40 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. During the same period last year, the firm posted $0.82 earnings per share. HP’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.85%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is presently 44.40%.

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.