Meridiem Capital Partners LP Acquires New Holdings in HP Inc. (NYSE:HPQ)

Meridiem Capital Partners LP purchased a new stake in HP Inc. (NYSE:HPQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 185,127 shares of the computer maker’s stock, valued at approximately $6,041,000.

A number of other institutional investors also recently modified their holdings of HPQ. Barclays PLC raised its position in shares of HP by 8.7% in the third quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock valued at $82,772,000 after purchasing an additional 183,741 shares during the period. Principal Financial Group Inc. grew its stake in shares of HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of HP by 3.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,534 shares of the computer maker’s stock worth $442,000 after acquiring an additional 482 shares during the last quarter. Czech National Bank grew its stake in shares of HP by 4.8% in the fourth quarter. Czech National Bank now owns 208,954 shares of the computer maker’s stock worth $6,818,000 after acquiring an additional 9,611 shares during the last quarter. Finally, Brookstone Capital Management grew its stake in shares of HP by 2.3% in the fourth quarter. Brookstone Capital Management now owns 325,021 shares of the computer maker’s stock worth $10,605,000 after acquiring an additional 7,432 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley decreased their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. TD Cowen decreased their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Evercore ISI decreased their price target on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $33.83.

Insiders Place Their Bets

In other HP news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the business’s 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. Company insiders own 0.38% of the company’s stock.

HP Stock Up 6.8%

HP stock opened at $28.25 on Tuesday. The stock has a 50-day simple moving average of $26.21 and a 200 day simple moving average of $31.47. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The stock has a market capitalization of $26.63 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 2.96 and a beta of 1.32.

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

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.