Stone Ridge Asset Management LLC Has $4.84 Million Holdings in HP Inc. (HPQ)
Stone Ridge Asset Management LLC raised its holdings in HP Inc. (NYSE:HPQ) by 48.7% during the fourth quarter, HoldingsChannel reports. The firm owned 236,628 shares of the computer maker’s stock after purchasing an additional 77,478 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in HP were worth $4,841,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its holdings in HP by 7.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 12,147 shares of the computer maker’s stock valued at $249,000 after acquiring an additional 795 shares during the last quarter. Jefferies Financial Group Inc. raised its holdings in HP by 7.2% in the 4th quarter. Jefferies Financial Group Inc. now owns 167,251 shares of the computer maker’s stock valued at $3,422,000 after acquiring an additional 11,194 shares during the last quarter. Claybrook Capital LLC raised its holdings in HP by 367.8% in the 4th quarter. Claybrook Capital LLC now owns 1,235 shares of the computer maker’s stock valued at $25,000 after acquiring an additional 971 shares during the last quarter. Achmea Investment Management B.V. raised its holdings in HP by 8.9% in the 4th quarter. Achmea Investment Management B.V. now owns 566,644 shares of the computer maker’s stock valued at $11,594,000 after acquiring an additional 46,532 shares during the last quarter. Finally, Kiwi Wealth Investments Limited Partnership acquired a new position in HP in the 4th quarter valued at $4,070,000. 78.98% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on HPQ. JPMorgan Chase & Co. reiterated a “hold” rating on shares of HP in a report on Thursday, February 28th. BMO Capital Markets reiterated a “hold” rating and issued a $22.00 price target on shares of HP in a report on Wednesday, February 27th. Royal Bank of Canada reiterated a “buy” rating and issued a $26.00 price target on shares of HP in a report on Wednesday, January 2nd. ValuEngine downgraded HP from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Bank of America downgraded HP from a “buy” rating to an “underperform” rating and set a $19.00 price target for the company. in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.38.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, February 27th. The computer maker reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The business had revenue of $14.71 billion during the quarter, compared to the consensus estimate of $14.81 billion. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS. Research analysts predict that HP Inc. will post 2.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be issued a dividend of $0.1602 per share. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.21%. HP’s payout ratio is 31.68%.
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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.
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