Mystic Asset Management Inc. Invests $287,000 in HP Inc. (NYSE:HPQ)

Mystic Asset Management Inc. purchased a new position in HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,784 shares of the computer maker’s stock, valued at approximately $287,000.

Other large investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new position in HP during the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in HP during the fourth quarter valued at about $31,000. OFI Invest Asset Management bought a new position in HP during the fourth quarter valued at about $37,000. Itau Unibanco Holding S.A. bought a new position in HP during the third quarter valued at about $40,000. Finally, RPg Family Wealth Advisory LLC bought a new position in HP during the third quarter valued at about $44,000. Institutional investors own 77.53% of the company’s stock.

HP Trading Down 0.8 %

Shares of HP stock opened at $28.68 on Wednesday. The stock has a 50-day moving average price of $32.16 and a 200 day moving average price of $34.32. The company has a market cap of $27.04 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $27.43 and a 1 year high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.04%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated 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 directly 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 document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

HPQ has been the subject of several research reports. Wells Fargo & Company raised their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. TD Cowen reduced their target price on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Citigroup reduced their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.14.

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.