Synergy Asset Management LLC Takes $26,000 Position in HP Inc. (NYSE:HPQ)

Synergy Asset Management LLC acquired a new position in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 718 shares of the computer maker’s stock, valued at approximately $26,000.

Several other large investors have also added to or reduced their stakes in HPQ. Marshall Wace LLP purchased a new stake in HP in the 2nd quarter worth approximately $269,000. Northwestern Mutual Wealth Management Co. raised its position in shares of HP by 9.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock worth $1,454,000 after buying an additional 3,722 shares in the last quarter. Truist Financial Corp boosted its stake in HP by 4.5% during the second quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock valued at $6,181,000 after buying an additional 7,678 shares during the period. Cetera Investment Advisers grew its position in HP by 14.5% during the second quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock worth $4,391,000 after buying an additional 15,905 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in HP in the 2nd quarter worth about $3,373,000. Institutional investors own 77.53% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HPQ. Barclays boosted their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. JPMorgan Chase & Co. dropped their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Citigroup reduced their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.23.

HP Price Performance

Shares of HPQ stock opened at $32.51 on Friday. The stock has a market capitalization of $30.48 billion, a PE ratio of 11.57, a P/E/G ratio of 2.78 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The business has a 50-day moving average of $34.03 and a 200 day moving average of $35.18.

HP (NYSE:HPQ) last posted its 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 negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same period last year, the firm earned $0.90 earnings per share. HP’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.56%. HP’s dividend payout ratio is 41.28%.

About HP

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.