Geode Capital Management LLC Has $825.40 Million Stake in HP Inc. (NYSE:HPQ)

Geode Capital Management LLC boosted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,350,016 shares of the computer maker's stock after purchasing an additional 579,525 shares during the quarter. Geode Capital Management LLC owned about 2.70% of HP worth $825,398,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HPQ. Synergy Asset Management LLC bought a new stake in shares of HP during the 4th quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in HP during the fourth quarter worth approximately $31,000. OFI Invest Asset Management bought a new stake in shares of HP during the fourth quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP in the third quarter valued at approximately $40,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of HP during the fourth quarter worth approximately $50,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

HPQ traded down $1.20 during trading on Friday, hitting $22.58. 22,862,599 shares of the stock traded hands, compared to its average volume of 7,599,953. The business has a 50 day moving average price of $30.78 and a 200 day moving average price of $33.72. HP Inc. has a twelve month low of $21.97 and a twelve month high of $39.80. The company has a market cap of $21.29 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 2.96 and a beta of 1.09.

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HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion during 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%. On average, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 5.13%. The ex-dividend date was Wednesday, March 12th. HP's payout ratio is 41.37%.

Insider Buying and Selling at HP

In other 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 value of $453,734.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction on 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 in the company, valued at $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wells Fargo & Company upped their price objective on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Sanford C. Bernstein upped their price target on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. TD Cowen dropped their price objective on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Loop Capital decreased their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. Finally, StockNews.com raised shares of HP from a "hold" rating to a "buy" rating in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, HP currently has a consensus rating of "Hold" and an average price target of $36.14.

HP 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.