Sumitomo Mitsui Trust Group Inc. cut its stake in HP Inc. (NYSE:HPQ - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,186,506 shares of the computer maker's stock after selling 19,503 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of HP worth $71,346,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. State Street Corp grew its position in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock worth $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock worth $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. KBC Group NV grew its holdings in shares of HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock worth $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. Finally, Bridgewater Associates LP grew its stake in HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker's stock worth $47,298,000 after buying an additional 1,270,642 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares of the company's stock, valued at approximately $204,002.50. This trade represents a 63.67 % 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 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 transaction of $353,427.36. Following the transaction, the insider now directly owns 64,676 shares of the company's stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. 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. Company insiders own 0.41% of the company's stock.
Analyst Ratings Changes
Several research analysts recently issued reports on HPQ shares. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. HSBC lowered HP from a "buy" rating to a "hold" rating and reduced their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Hsbc Global Res downgraded HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. TD Cowen increased their price target on shares of HP from $32.00 to $39.00 and gave the company a "hold" rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.23.
View Our Latest Report on HP
HP Trading Up 0.8 %
NYSE HPQ traded up $0.26 on Thursday, hitting $33.30. The company's stock had a trading volume of 5,393,338 shares, compared to its average volume of 5,896,946. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The company's 50-day simple moving average is $33.28 and its 200 day simple moving average is $34.86. The firm has a market cap of $31.23 billion, a P/E ratio of 11.85, a PEG ratio of 2.78 and a beta of 1.05.
HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS 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 analyst estimates of $13.99 billion. During the same quarter last year, the firm posted $0.90 earnings per share. The firm's revenue was up 1.7% on a year-over-year basis. On average, research analysts forecast that HP Inc. will post 3.56 EPS 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 is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.48%. HP's dividend payout ratio is 41.28%.
HP 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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