Allspring Global Investments Holdings LLC Purchases 142,501 Shares of HP Inc. (NYSE:HPQ)

Allspring Global Investments Holdings LLC boosted its position in HP Inc. (NYSE:HPQ - Free Report) by 293.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,135 shares of the computer maker's stock after buying an additional 142,501 shares during the period. Allspring Global Investments Holdings LLC's holdings in HP were worth $6,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of HP during the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC purchased a new stake in HP in the 4th quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP during the 4th quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP during the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in HP during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value 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 represents a 63.67 % decrease in their position. The transaction was disclosed in a legal 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 stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This represents 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 in the last three months. Insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays raised their price target on HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Wednesday, November 27th. Citigroup reduced their price target on HP from $37.00 to $36.50 and set a "neutral" rating for the company in a report on Wednesday, November 27th. Wells Fargo & Company lifted their price objective on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Finally, HSBC cut HP from a "buy" rating to a "hold" rating and cut their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.68.

HP Price Performance

Shares of HPQ traded down $0.09 on Friday, hitting $34.63. The company's stock had a trading volume of 7,213,953 shares, compared to its average volume of 5,152,363. The company has a market capitalization of $32.48 billion, a PE ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company has a 50 day moving average price of $33.10 and a 200 day moving average price of $34.83.

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 the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the prior year, the business earned $0.90 EPS. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

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

HP Company Profile

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.