SteelPeak Wealth LLC Acquires 32,053 Shares of HP Inc. (NYSE:HPQ)

SteelPeak Wealth LLC grew its holdings in HP Inc. (NYSE:HPQFree Report) by 51.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,108 shares of the computer maker’s stock after purchasing an additional 32,053 shares during the period. SteelPeak Wealth LLC’s holdings in HP were worth $2,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rosenberg Matthew Hamilton grew its holdings in shares of HP by 84.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after acquiring an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of HP in the fourth quarter worth $28,000. Sawyer & Company Inc grew its holdings in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the period. Janiczek Wealth Management LLC grew its holdings in shares of HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after acquiring an additional 566 shares during the period. Finally, Rise Advisors LLC grew its holdings in shares of HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares during the period. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HP stock traded up $0.31 during trading hours on Friday, hitting $35.02. The company’s stock had a trading volume of 14,543,019 shares, compared to its average volume of 9,394,760. The business has a 50 day moving average price of $32.71 and a two-hundred day moving average price of $30.61. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The company has a market cap of $34.27 billion, a PE ratio of 11.83, a PEG ratio of 2.23 and a beta of 1.12.

HP (NYSE:HPQGet Free Report) last announced its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 earnings per share. As a group, research analysts anticipate that HP Inc. will post 3.45 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.15%. HP’s dividend payout ratio is currently 37.16%.

Insider Buying and Selling

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the sale, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on HPQ. Wells Fargo & Company lifted their price objective on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. TD Cowen lifted their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Barclays lifted their target price on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Bank of America lifted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley lifted their target price on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Check Out Our Latest Analysis on HPQ

About HP

(Free Report)

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.

See Also

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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