Bridgewater Associates LP Purchases 1,518,653 Shares of HP Inc. (NYSE:HPQ)

Bridgewater Associates LP grew its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 115.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,837,252 shares of the computer maker's stock after buying an additional 1,518,653 shares during the quarter. Bridgewater Associates LP owned 0.30% of HP worth $92,580,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of HP during the 4th quarter valued at about $229,320,000. KBC Group NV grew its holdings in shares of HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after acquiring an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of HP during the 4th quarter worth $65,260,000. Raymond James Financial Inc. purchased a new stake in HP in the 4th quarter worth approximately $36,492,000. Finally, Amundi lifted its position in shares of HP by 15.9% in the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after acquiring an additional 899,349 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

Insider Activity

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares of the company's stock, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

HP Price Performance

HPQ traded up $0.30 during trading on Friday, hitting $23.77. The company's stock had a trading volume of 6,784,568 shares, compared to its average volume of 7,847,123. The stock has a market cap of $22.41 billion, a PE ratio of 8.46, a PEG ratio of 2.96 and a beta of 1.09. The firm's 50 day moving average price is $28.56 and its 200-day moving average price is $32.74. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. Equities analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend was Wednesday, March 12th. HP's dividend payout ratio (DPR) is presently 41.37%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HPQ shares. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Citigroup lowered their price objective on HP from $36.50 to $25.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley lowered their price objective on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.00.

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.