C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of HP Inc. (NYSE:HPQ - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,000,000 shares of the computer maker's stock, valued at approximately $65,260,000. HP makes up about 2.3% of C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' investment portfolio, making the stock its 8th largest position. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors owned 0.21% of HP as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. State Street Corp raised its stake in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. increased its position in HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker's stock valued at $482,164,000 after buying an additional 592,391 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in HP by 7.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker's stock valued at $307,816,000 after buying an additional 612,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of HP by 11.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker's stock worth $241,876,000 after acquiring an additional 678,985 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at HP
In related news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 11,000 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares of the company's stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 over the last 90 days. Corporate insiders own 0.41% of the company's stock.
Analyst Ratings Changes
Several research firms have weighed in on HPQ. JPMorgan Chase & Co. dropped their target price 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. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. HSBC lowered HP from a "buy" rating to a "hold" rating and cut their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, TD Cowen upped their target price on HP from $32.00 to $39.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $36.23.
Read Our Latest Stock Analysis on HP
HP Stock Performance
NYSE HPQ traded up $0.39 during mid-day trading on Friday, reaching $33.69. 4,182,723 shares of the stock were exchanged, compared to its average volume of 5,950,505. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The business's 50 day moving average is $33.17 and its 200-day moving average is $34.83. The company has a market capitalization of $31.59 billion, a P/E ratio of 11.99, a P/E/G ratio of 2.78 and a beta of 1.05.
HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts' consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $14.06 billion during the quarter, compared to analysts' expectations of $13.99 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. HP's quarterly revenue was up 1.7% compared to the same quarter last year. Equities analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.
HP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.44%. HP's dividend payout ratio (DPR) is 41.28%.
HP Company Profile
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Free Report)
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.
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