Alberta Investment Management Corp Purchases 52,800 Shares of HP Inc. (NYSE:HPQ)

Alberta Investment Management Corp grew its position in HP Inc. (NYSE:HPQ - Free Report) by 244.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 74,400 shares of the computer maker's stock after buying an additional 52,800 shares during the period. Alberta Investment Management Corp's holdings in HP were worth $2,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning increased its position in HP by 5.3% in the third quarter. Creative Planning now owns 225,129 shares of the computer maker's stock worth $8,075,000 after purchasing an additional 11,240 shares during the period. Blue Trust Inc. grew its position in shares of HP by 80.5% during the 3rd quarter. Blue Trust Inc. now owns 10,580 shares of the computer maker's stock worth $371,000 after buying an additional 4,718 shares during the period. Foundations Investment Advisors LLC raised its stake in shares of HP by 26.3% during the third quarter. Foundations Investment Advisors LLC now owns 9,038 shares of the computer maker's stock worth $324,000 after buying an additional 1,884 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in HP by 3.7% in the third quarter. Sequoia Financial Advisors LLC now owns 23,413 shares of the computer maker's stock valued at $840,000 after buying an additional 832 shares during the period. Finally, Signaturefd LLC lifted its holdings in HP by 3.6% in the third quarter. Signaturefd LLC now owns 18,142 shares of the computer maker's stock valued at $651,000 after buying an additional 631 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company's stock, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company's stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock worth $9,670,068 over the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research note on Friday, January 3rd. Barclays increased their target price on HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 27th. Hsbc Global Res lowered HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $36.68.

HP Price Performance

Shares of HP stock traded down $0.09 on Friday, hitting $34.63. The company had a trading volume of 7,213,953 shares, compared to its average volume of 5,835,043. The firm has a market capitalization of $32.48 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.96 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The stock has a 50-day moving average of $33.10 and a 200-day moving average of $34.81.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. HP's quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Equities analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's payout ratio is 41.28%.

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.