Hudson Edge Investment Partners Inc. Makes New Investment in HP Inc. (NYSE:HPQ)

Hudson Edge Investment Partners Inc. purchased a new position in HP Inc. (NYSE:HPQ) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,936 shares of the computer maker’s stock, valued at approximately $173,000.

A number of other large investors have also modified their holdings of HPQ. Sawyer & Company Inc increased its holdings in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after purchasing an additional 900 shares during the period. Rise Advisors LLC grew its position in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after buying an additional 839 shares in the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of HP during the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP in the second quarter valued at approximately $34,000. Finally, Hantz Financial Services Inc. purchased a new position in HP in the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Trading Down 1.7 %

Shares of NYSE HPQ traded down $0.58 during trading hours on Friday, reaching $33.82. The stock had a trading volume of 7,995,956 shares, compared to its average volume of 7,880,553. The firm has a 50-day moving average of $35.43 and a 200-day moving average of $32.68. The firm has a market cap of $33.09 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.32 and a beta of 1.07. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. HP’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. On average, equities analysts predict that HP Inc. will post 3.4 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a yield of 3.26%. HP’s dividend payout ratio is presently 37.16%.

HP declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of recent analyst reports. TD Cowen increased their price objective on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. UBS Group increased their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays decreased their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company raised their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has a consensus rating of “Hold” and an average price target of $35.55.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

HP Company 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.