NewSquare Capital LLC Has $5.02 Million Holdings in HP Inc. (NYSE:HPQ)

NewSquare Capital LLC lifted its stake in HP Inc. (NYSE:HPQ) by 2.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 169,622 shares of the computer maker’s stock after buying an additional 3,450 shares during the quarter. NewSquare Capital LLC’s holdings in HP were worth $5,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HPQ. Rosenberg Matthew Hamilton raised its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in HP during the 4th quarter valued at $28,000. Janiczek Wealth Management LLC increased its holdings in HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 566 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in HP during the 4th quarter valued at $34,000. Finally, Salem Investment Counselors Inc. increased its holdings in HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HPQ shares. HSBC raised HP from a “hold” rating to a “buy” rating and raised their price target for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Barclays raised their price target on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.11.

Insider Transactions at HP

In other HP news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other HP news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock worth $3,479,287 in the last three months. Insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of NYSE HPQ traded down $0.02 during midday trading on Tuesday, hitting $27.68. The stock had a trading volume of 6,115,483 shares, compared to its average volume of 7,964,501. The company’s 50-day simple moving average is $29.32 and its 200 day simple moving average is $28.83. The firm has a market cap of $27.15 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 2.33 and a beta of 1.05. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same period last year, the company earned $0.75 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. Equities analysts expect that HP Inc. will post 3.42 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $0.2756 dividend. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.98%. HP’s dividend payout ratio is currently 32.16%.

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.