Steel Peak Wealth Management LLC Invests $1.06 Million in HP Inc. (NYSE:HPQ)
Steel Peak Wealth Management LLC bought a new position in shares of HP Inc. (NYSE:HPQ) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 51,442 shares of the computer maker’s stock, valued at approximately $1,057,000.
Several other large investors have also bought and sold shares of the company. Icahn Carl C bought a new stake in shares of HP during the third quarter worth about $1,190,124,000. Nomura Holdings Inc. grew its position in HP by 36.1% in the 3rd quarter. Nomura Holdings Inc. now owns 43,357,950 shares of the computer maker’s stock worth $813,980,000 after purchasing an additional 11,505,770 shares in the last quarter. American International Group Inc. grew its position in HP by 14.3% in the 4th quarter. American International Group Inc. now owns 17,316,790 shares of the computer maker’s stock worth $355,860,000 after purchasing an additional 2,163,067 shares in the last quarter. Great West Life Assurance Co. Can grew its position in HP by 0.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,135,203 shares of the computer maker’s stock worth $78,257,000 after purchasing an additional 14,838 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in HP by 10.5% in the 3rd quarter. California Public Employees Retirement System now owns 3,682,478 shares of the computer maker’s stock worth $69,672,000 after purchasing an additional 350,379 shares in the last quarter. 84.07% of the stock is owned by institutional investors.
HPQ has been the subject of a number of recent analyst reports. Wells Fargo & Co reaffirmed a “hold” rating on shares of HP in a research report on Tuesday, November 26th. Zacks Investment Research raised shares of HP from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of HP from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Evercore ISI raised shares of HP from an “in-line” rating to an “outperform” rating and set a $24.00 price objective for the company in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.56.
HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. HP had a net margin of 5.36% and a negative return on equity of 241.43%. The firm had revenue of $15.40 billion during the quarter, compared to the consensus estimate of $15.29 billion. During the same period in the prior year, the firm earned $0.54 EPS. The company’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post 2.29 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be given a dividend of $0.1762 per share. This is an increase from HP’s previous quarterly dividend of $0.18. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, March 10th. HP’s dividend payout ratio is currently 31.25%.
In other news, insider Christoph Schell sold 42,804 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $19.99, for a total transaction of $855,651.96. Following the completion of the transaction, the insider now directly owns 144,684 shares of the company’s stock, valued at approximately $2,892,233.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.
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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