Hudson Edge Investment Partners Inc. Makes New $173,000 Investment in HP Inc. (NYSE:HPQ)

Hudson Edge Investment Partners Inc. acquired a new stake in shares of HP Inc. (NYSE:HPQ) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,936 shares of the computer maker’s stock, valued at approximately $173,000.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in HP in the 4th quarter worth about $1,471,000. Van ECK Associates Corp increased its position in shares of HP by 8.2% during the fourth quarter. Van ECK Associates Corp now owns 30,151 shares of the computer maker’s stock worth $907,000 after purchasing an additional 2,293 shares in the last quarter. Fisher Asset Management LLC acquired a new position in HP in the 4th quarter valued at $498,000. Lincoln National Corp raised its stake in HP by 2.8% in the 4th quarter. Lincoln National Corp now owns 14,683 shares of the computer maker’s stock valued at $442,000 after purchasing an additional 404 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in HP by 17.0% in the 4th quarter. Apollon Wealth Management LLC now owns 17,263 shares of the computer maker’s stock valued at $519,000 after purchasing an additional 2,512 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley dropped their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Loop Capital decreased their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday. TD Cowen upped their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Finally, UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $35.55.

Insider Buying and Selling

In other HP news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Down 1.7 %

NYSE:HPQ traded down $0.58 on Friday, reaching $33.82. The company’s stock had a trading volume of 7,995,956 shares, compared to its average volume of 7,880,553. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The stock has a 50 day moving average price of $35.43 and a 200 day moving average price of $32.68. The firm has a market cap of $33.09 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts expect that HP Inc. will post 3.4 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 3.26%. HP’s dividend payout ratio is currently 37.16%.

HP announced that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.