Donoghue Forlines LLC Invests $1.48 Million in HP Inc. (NYSE:HPQ)

Donoghue Forlines LLC acquired a new stake in shares of HP Inc. (NYSE:HPQ) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 45,206 shares of the computer maker’s stock, valued at approximately $1,475,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Profund Advisors LLC raised its position in shares of HP by 5.6% during the 2nd quarter. Profund Advisors LLC now owns 17,455 shares of the computer maker’s stock valued at $611,000 after purchasing an additional 927 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of HP by 58.1% in the second quarter. EverSource Wealth Advisors LLC now owns 4,175 shares of the computer maker’s stock worth $151,000 after acquiring an additional 1,534 shares during the period. Public Sector Pension Investment Board raised its stake in HP by 78.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 17,978 shares of the computer maker’s stock valued at $630,000 after purchasing an additional 7,931 shares during the period. Bank of Montreal Can lifted its holdings in HP by 0.5% in the 2nd quarter. Bank of Montreal Can now owns 1,290,565 shares of the computer maker’s stock worth $46,899,000 after purchasing an additional 6,412 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in HP in the 2nd quarter worth approximately $269,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

HP Price Performance

Shares of HPQ stock opened at $33.13 on Thursday. The stock’s 50-day moving average is $34.53 and its 200 day moving average is $35.31. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The company has a market cap of $31.06 billion, a P/E ratio of 11.80, a PEG ratio of 2.81 and a beta of 1.05.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period in the previous year, the company earned $0.90 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.49%. The ex-dividend date was Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is currently 41.28%.

Analyst Ratings Changes

HPQ has been the subject of a number of research analyst reports. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. HSBC downgraded HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Citigroup reduced their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.23.

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.