Romano Brothers AND Company Buys New Shares in HP Inc. (NYSE:HPQ)

Posted by on Mar 26th, 2023

Romano Brothers AND Company bought a new stake in shares of HP Inc. (NYSE:HPQ – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,375 shares of the computer maker’s stock, valued at approximately $171,000.

Other large investors have also recently bought and sold shares of the company. New England Asset Management Inc. increased its holdings in HP by 11,092.9% in the 2nd quarter. New England Asset Management Inc. now owns 16,484,459 shares of the computer maker’s stock valued at $540,361,000 after buying an additional 16,337,183 shares during the period. Great West Life Assurance Co. Can bought a new stake in HP in the 3rd quarter valued at $46,671,000. Pacer Advisors Inc. increased its holdings in HP by 41.7% in the 3rd quarter. Pacer Advisors Inc. now owns 4,865,955 shares of the computer maker’s stock valued at $121,260,000 after buying an additional 1,431,079 shares during the period. First Republic Investment Management Inc. increased its holdings in HP by 485.6% in the 3rd quarter. First Republic Investment Management Inc. now owns 1,381,492 shares of the computer maker’s stock valued at $34,427,000 after buying an additional 1,145,593 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in HP by 51.5% in the 3rd quarter. Victory Capital Management Inc. now owns 3,348,120 shares of the computer maker’s stock valued at $83,435,000 after buying an additional 1,138,208 shares during the period. 79.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HPQ shares. Sanford C. Bernstein lowered their price target on shares of HP from $30.00 to $29.00 in a report on Monday, January 9th. The Goldman Sachs Group assumed coverage on shares of HP in a report on Monday, March 20th. They issued a “neutral” rating and a $26.00 target price on the stock. StockNews.com assumed coverage on shares of HP in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Bank of America lowered their target price on shares of HP from $27.00 to $26.00 in a report on Wednesday, March 1st. Finally, Morgan Stanley upped their target price on shares of HP from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, February 21st. Four analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $29.19.

HP Stock Performance

HP stock opened at $27.72 on Friday. HP Inc. has a 1 year low of $24.08 and a 1 year high of $41.47. The company has a market cap of $27.31 billion, a PE ratio of 11.04, a PEG ratio of 3.11 and a beta of 1.01. The company’s 50-day moving average is $28.87 and its two-hundred day moving average is $27.97.

HP (NYSE:HPQ – Get Rating) last released its earnings results on Tuesday, February 28th. The computer maker reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. HP had a net margin of 4.36% and a negative return on equity of 141.20%. The company had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.17 billion. During the same period in the prior year, the company posted $1.10 EPS. The company’s revenue was down 18.8% compared to the same quarter last year. Research analysts forecast that HP Inc. will post 3.28 EPS for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 3.79%. HP’s payout ratio is presently 41.83%.

Insider Buying and Selling at HP

In other HP news, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total transaction of $220,440.60. Following the transaction, the chief financial officer now directly owns 22,648 shares in the company, valued at approximately $676,495.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Marie Myers sold 7,380 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total value of $220,440.60. Following the sale, the chief financial officer now directly owns 22,648 shares in the company, valued at approximately $676,495.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $27.13, for a total transaction of $922,420.00. Following the completion of the sale, the chief executive officer now owns 804,268 shares in the company, valued at $21,819,790.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,749 shares of company stock worth $2,105,460. Company insiders own 0.32% of the company’s stock.

HP Company Profile

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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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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