Harvest Fund Management Co. Ltd Takes Position in HP Inc. (NYSE:HPQ)

Harvest Fund Management Co. Ltd purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,350 shares of the computer maker’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HPQ. NewSquare Capital LLC raised its position in HP by 2.1% in the fourth quarter. NewSquare Capital LLC now owns 169,622 shares of the computer maker’s stock worth $5,023,000 after acquiring an additional 3,450 shares in the last quarter. GAMMA Investing LLC acquired a new position in HP in the fourth quarter worth approximately $206,000. Linden Thomas Advisory Services LLC lifted its position in shares of HP by 6.3% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 44,459 shares of the computer maker’s stock valued at $1,338,000 after acquiring an additional 2,632 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of HP by 148.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,567 shares of the computer maker’s stock worth $137,000 after purchasing an additional 2,729 shares during the period. Finally, Community Bank & Trust Waco Texas purchased a new position in HP in the 4th quarter worth about $347,000. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent analyst reports. HSBC raised HP from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Barclays upped their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

Insider Transactions at HP

In other HP news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the sale, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the sale, the director now owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Up 0.1 %

HPQ opened at $28.13 on Friday. The firm’s fifty day simple moving average is $29.28 and its 200 day simple moving average is $28.83. The stock has a market capitalization of $27.59 billion, a P/E ratio of 8.23, a P/E/G ratio of 2.35 and a beta of 1.05. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. On average, equities research analysts predict that HP Inc. will post 3.42 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.92%. The ex-dividend date was Tuesday, March 12th. HP’s payout ratio is 32.16%.

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.