Meeder Asset Management Inc. Invests $265,000 in HP Inc. (NYSE:HPQ)

Meeder Asset Management Inc. bought a new stake in HP Inc. (NYSE:HPQ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,108 shares of the computer maker’s stock, valued at approximately $265,000.

Other hedge funds have also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in HP in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP in the 4th quarter valued at about $31,000. OFI Invest Asset Management purchased a new position in HP during the 4th quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new position in HP during the third quarter worth approximately $40,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in HP in the fourth quarter valued at approximately $50,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HPQ has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Loop Capital reduced their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Finally, Barclays upped their price objective on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, HP currently has a consensus rating of “Hold” and a consensus target price of $36.14.

HP Price Performance

HPQ opened at $27.71 on Tuesday. HP Inc. has a 12 month low of $27.30 and a 12 month high of $39.80. The stock has a market capitalization of $26.13 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.96 and a beta of 1.09. The business has a 50 day simple moving average of $31.38 and a 200-day simple moving average of $33.94.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The firm 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 dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

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.