289,688 Shares in HP Inc. (NYSE:HPQ) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in HP Inc. (NYSE:HPQ - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 289,688 shares of the computer maker's stock, valued at approximately $9,481,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Amundi lifted its position in HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker's stock worth $217,319,000 after acquiring an additional 899,349 shares during the period. Geode Capital Management LLC lifted its holdings in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock worth $825,398,000 after purchasing an additional 579,525 shares during the period. Principal Financial Group Inc. boosted its position in HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker's stock valued at $41,391,000 after buying an additional 160,268 shares during the last quarter. Oak Thistle LLC raised its position in HP by 169.3% during the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker's stock worth $1,132,000 after buying an additional 21,805 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker's stock valued at $5,259,000 after acquiring an additional 47,230 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley reduced their price objective on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. TD Cowen decreased their target price on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. StockNews.com lowered shares of HP from a "buy" rating to a "hold" rating in a report on Tuesday. Barclays increased their price objective on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Sanford C. Bernstein boosted their target price on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.14.

HP Stock Performance

Shares of NYSE HPQ traded up $0.09 during midday trading on Friday, reaching $22.96. 3,174,541 shares of the stock were exchanged, compared to its average volume of 7,770,651. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The stock has a market capitalization of $21.65 billion, a P/E ratio of 8.16, a PEG ratio of 2.96 and a beta of 1.09. The company has a 50 day simple moving average of $29.63 and a 200 day simple moving average of $33.22.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion for 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, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend was Wednesday, March 12th. HP's payout ratio is 41.37%.

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.