Charles Schwab Investment Management Inc. raised its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,833,728 shares of the computer maker's stock after purchasing an additional 90,606 shares during the period. Charles Schwab Investment Management Inc. owned 0.73% of HP worth $222,985,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in HP by 16.1% during the 3rd 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 in the last quarter. Oak Thistle LLC increased its holdings in shares of HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker's stock valued at $1,132,000 after acquiring an additional 21,805 shares in the last quarter. Tidal Investments LLC raised its position in shares of HP by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker's stock valued at $5,259,000 after purchasing an additional 47,230 shares during the last quarter. MML Investors Services LLC boosted its stake in HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker's stock worth $2,243,000 after purchasing an additional 16,207 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in HP by 4.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker's stock worth $14,581,000 after purchasing an additional 18,557 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.
Insider Activity
In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares of the company's stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 125,643 shares of company stock worth $4,319,565 in the last quarter. Corporate insiders own 0.38% of the company's stock.
Analyst Ratings Changes
A number of research firms have issued reports on HPQ. HSBC cut shares of HP from a "buy" rating to a "hold" rating and decreased their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Barclays lifted their price target on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Loop Capital dropped their price target on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 4th. Wells Fargo & Company raised 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. Finally, Morgan Stanley dropped their target price on HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $36.14.
Check Out Our Latest Analysis on HPQ
HP Stock Performance
Shares of HPQ traded down $0.61 during trading hours on Monday, hitting $29.94. The stock had a trading volume of 8,848,363 shares, compared to its average volume of 7,189,036. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80. The firm has a 50-day moving average price of $32.76 and a 200 day moving average price of $34.65. The firm has a market capitalization of $28.22 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.96 and a beta of 1.09.
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 firm had revenue of $13.50 billion for 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, analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.
HP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Wednesday, March 12th. HP's payout ratio is 41.37%.
HP Profile
(
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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