Horizon Investments LLC Buys 759 Shares of HP Inc. (NYSE:HPQ)

Horizon Investments LLC lifted its stake in HP Inc. (NYSE:HPQ) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,025 shares of the computer maker’s stock after purchasing an additional 759 shares during the period. Horizon Investments LLC’s holdings in HP were worth $784,000 at the end of the most recent quarter.

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

HP Stock Performance

Shares of HPQ opened at $28.76 on Thursday. The stock has a 50 day simple moving average of $32.07 and a 200 day simple moving average of $34.28. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The firm has a market capitalization of $27.11 billion, a PE ratio of 10.23, a P/E/G ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

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 paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is 41.37%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several analyst reports. Sanford C. Bernstein lifted their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. StockNews.com upgraded shares of 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 on the stock in a research note 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 research note on Wednesday, November 27th. Finally, Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, HP presently has a consensus rating of “Hold” and a consensus price target of $36.14.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.38% of the stock is owned by insiders.

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.