NEOS Investment Management LLC Buys 12,443 Shares of HP Inc. (NYSE:HPQ)

NEOS Investment Management LLC lifted its stake in shares of HP Inc. (NYSE:HPQ) by 31.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,025 shares of the computer maker’s stock after purchasing an additional 12,443 shares during the quarter. NEOS Investment Management LLC’s holdings in HP were worth $1,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HPQ. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of HP by 7.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,509,426 shares of the computer maker’s stock worth $50,022,000 after buying an additional 99,983 shares in the last quarter. TIAA Trust National Association grew its position in HP by 1.8% during the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after acquiring an additional 302 shares during the last quarter. Modern Wealth Management LLC bought a new position in HP in the fourth quarter valued at about $1,422,000. Barnett & Company Inc. boosted its stake in shares of HP by 0.5% during the fourth quarter. Barnett & Company Inc. now owns 102,008 shares of the computer maker’s stock valued at $3,329,000 after purchasing an additional 458 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in shares of HP by 0.4% during the fourth quarter. United Services Automobile Association now owns 199,976 shares of the computer maker’s stock worth $6,525,000 after purchasing an additional 881 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Performance

HP stock opened at $27.90 on Friday. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 9.93, a PEG 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’s 50 day moving average price is $31.48 and its two-hundred day moving average price is $33.98.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. On average, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current 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 issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.15%. HP’s payout ratio is currently 41.37%.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several recent research reports. Loop Capital cut their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley decreased their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Wells Fargo & Company lifted 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. StockNews.com raised HP from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Barclays lifted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.14.

Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company’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 transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,191 shares of company stock valued at $1,425,051. Company insiders own 0.38% of the company’s stock.

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.