Lee Danner & Bass Inc. Purchases New Holdings in HP Inc. (NYSE:HPQ)

Lee Danner & Bass Inc. purchased a new stake in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,082 shares of the computer maker’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Northwest & Ethical Investments L.P. increased its position in HP by 10.8% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 298,168 shares of the computer maker’s stock worth $9,729,000 after buying an additional 29,080 shares during the last quarter. Blueshift Asset Management LLC increased its position in HP by 32.5% in the fourth quarter. Blueshift Asset Management LLC now owns 26,480 shares of the computer maker’s stock worth $864,000 after buying an additional 6,496 shares during the last quarter. iA Global Asset Management Inc. increased its position in HP by 5.7% in the fourth quarter. iA Global Asset Management Inc. now owns 52,366 shares of the computer maker’s stock worth $1,709,000 after buying an additional 2,827 shares during the last quarter. Magnetar Financial LLC purchased a new stake in HP in the fourth quarter worth $5,241,000. Finally, Royal London Asset Management Ltd. increased its position in HP by 4.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 431,344 shares of the computer maker’s stock worth $14,075,000 after buying an additional 18,840 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

HP Stock Performance

NYSE:HPQ opened at $28.63 on Friday. The firm has a market capitalization of $26.98 billion, a price-to-earnings ratio of 10.19, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The stock has a fifty day moving average of $31.88 and a 200 day moving average of $34.18.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.04%. HP’s payout ratio is 41.37%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. StockNews.com raised HP from a “hold” rating to a “buy” rating in a research report on Tuesday. TD Cowen cut their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.14.

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.