NEOS Investment Management LLC Increases Stock Position in HP Inc. (NYSE:HPQ)

NEOS Investment Management LLC increased its position in shares of HP Inc. (NYSE:HPQ) by 31.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in HP by 8.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 786,641 shares of the computer maker’s stock valued at $28,217,000 after purchasing an additional 62,346 shares during the period. Townsquare Capital LLC grew its position in HP by 72.6% during the third quarter. Townsquare Capital LLC now owns 14,725 shares of the computer maker’s stock valued at $528,000 after buying an additional 6,192 shares during the period. CreativeOne Wealth LLC grew its position in HP by 4.2% during the third quarter. CreativeOne Wealth LLC now owns 23,816 shares of the computer maker’s stock valued at $854,000 after buying an additional 965 shares during the period. FORA Capital LLC purchased a new stake in HP during the third quarter worth about $240,000. Finally, Fiduciary Trust Co raised its position in HP by 3.8% in the third quarter. Fiduciary Trust Co now owns 47,291 shares of the computer maker’s stock worth $1,696,000 after acquiring an additional 1,750 shares during the period. 77.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HPQ. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays raised their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. TD Cowen dropped their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company lifted their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Sanford C. Bernstein upped their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.14.

HP Trading Down 2.6 %

HPQ stock opened at $27.90 on Friday. The firm has a 50 day moving average of $31.48 and a 200-day moving average of $33.98. The firm has a market capitalization of $26.30 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 4.15%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,191 shares of company stock valued at $1,425,051. 0.38% of the stock is owned by corporate insiders.

HP Company 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.