Mirae Asset Global Investments Co. Ltd. Raises Holdings in HP Inc. (NYSE:HPQ)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,900 shares of the computer maker's stock after buying an additional 24,139 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in HP were worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in HP during the 3rd quarter valued at approximately $25,000. Synergy Asset Management LLC purchased a new stake in HP during the 4th quarter valued at approximately $26,000. Wolff Wiese Magana LLC grew its holdings in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after buying an additional 518 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in HP during the 3rd quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in HP during the 3rd quarter valued at approximately $40,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock worth $9,670,068 over the last three months. 0.41% of the stock is owned by corporate insiders.

HP Stock Down 0.3 %

HPQ traded down $0.11 during trading on Wednesday, reaching $33.04. The company had a trading volume of 4,312,315 shares, compared to its average volume of 5,914,940. The stock has a market cap of $30.98 billion, a P/E ratio of 11.76, a PEG ratio of 2.78 and a beta of 1.05. The business has a 50 day simple moving average of $33.34 and a 200-day simple moving average of $34.88. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share 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 business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period last year, the company earned $0.90 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.50%. HP's payout ratio is currently 41.28%.

Analysts Set New Price Targets

A number of research firms recently weighed in on HPQ. Sanford C. Bernstein raised their target price on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Wednesday, November 20th. Hsbc Global Res lowered shares of HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. TD Cowen raised their target price on shares of HP from $32.00 to $39.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Finally, Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, HP currently has an average rating of "Hold" and a consensus price target of $36.23.

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.