43,316 Shares in HP Inc. (NYSE:HPQ) Acquired by Modern Wealth Management LLC

Modern Wealth Management LLC purchased a new position in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 43,316 shares of the computer maker’s stock, valued at approximately $1,422,000.

Other large investors also recently modified their holdings of the company. Synergy Asset Management LLC bought a new position in HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP in the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter worth approximately $40,000. OFI Invest Asset Management bought a new position in HP in the fourth quarter worth approximately $37,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HPQ. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Barclays upped their target price on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Citigroup decreased their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Loop Capital dropped their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.14.

Insiders Place Their Bets

In other news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

HP Price Performance

Shares of NYSE:HPQ opened at $28.78 on Wednesday. The company has a market capitalization of $27.13 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $27.43 and a 1 year high of $39.80. The business has a fifty day moving average price of $31.73 and a two-hundred day moving average price of $34.09.

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, hitting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.02%. The ex-dividend date of this dividend is Wednesday, March 12th. 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.