Range Financial Group LLC Acquires 17,386 Shares of HP Inc. (NYSE:HPQ)

Range Financial Group LLC grew its holdings in HP Inc. (NYSE:HPQ) by 127.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,080 shares of the computer maker’s stock after purchasing an additional 17,386 shares during the period. Range Financial Group LLC’s holdings in HP were worth $1,014,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. State Street Corp grew its stake in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC lifted its holdings in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after buying an additional 2,477,977 shares during the period. DME Capital Management LP increased its position in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after acquiring an additional 1,757,070 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares during the period. Finally, Primecap Management Co. CA raised its position in HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ traded down $0.25 during midday trading on Tuesday, hitting $33.62. 5,343,192 shares of the company traded hands, compared to its average volume of 5,798,486. The stock has a market cap of $31.53 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.95 and a beta of 1.05. The firm has a 50 day moving average of $35.43 and a 200-day moving average of $35.50. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. Sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is presently 40.93%.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several analyst reports. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Barclays upped their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. TD Cowen lifted their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, Sanford C. Bernstein lifted their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.23.

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.