Geode Capital Management LLC increased its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 11.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,770,491 shares of the computer maker's stock after buying an additional 2,477,977 shares during the period. Geode Capital Management LLC owned 2.57% of HP worth $885,877,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its stake in HP by 8.7% in the 3rd quarter. Barclays PLC now owns 2,307,573 shares of the computer maker's stock worth $82,772,000 after purchasing an additional 183,741 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of HP by 6.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 413,572 shares of the computer maker's stock valued at $14,835,000 after buying an additional 25,548 shares in the last quarter. MML Investors Services LLC grew its position in HP by 35.0% during the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker's stock worth $2,243,000 after buying an additional 16,207 shares in the last quarter. Zacks Investment Management increased its stake in HP by 3.8% during the 3rd quarter. Zacks Investment Management now owns 17,673 shares of the computer maker's stock worth $634,000 after acquiring an additional 643 shares during the period. Finally, iA Global Asset Management Inc. raised its holdings in HP by 488.9% in the 3rd quarter. iA Global Asset Management Inc. now owns 49,539 shares of the computer maker's stock valued at $1,777,000 after acquiring an additional 41,127 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company's stock.
HP Trading Up 1.2 %
HP stock traded up $0.43 during trading on Thursday, hitting $34.98. 5,056,205 shares of the company were exchanged, compared to its average volume of 7,846,775. The company has a market capitalization of $33.71 billion, a P/E ratio of 12.29, a PEG ratio of 3.09 and a beta of 1.04. The business's 50 day moving average is $36.63 and its 200 day moving average is $35.81. 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 posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter last year, the business posted $0.90 EPS. The company's revenue for the quarter was up 1.7% on a year-over-year basis. Equities analysts expect that HP Inc. will post 3.56 EPS for the current year.
HP Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.31%. This is a boost from HP's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. HP's payout ratio is presently 40.93%.
HP announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
HPQ has been the topic of a number of recent analyst reports. TD Cowen raised their price target on HP from $32.00 to $39.00 and gave the stock a "hold" rating in a research report on Wednesday, November 27th. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Hsbc Global Res downgraded shares of HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. HSBC downgraded HP from a "buy" rating to a "hold" rating and reduced their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Bank of America lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, HP has an average rating of "Hold" and a consensus price target of $36.45.
Get Our Latest Stock Analysis on HPQ
Insider Activity
In other HP news, insider Alex Cho sold 40,287 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,250,724.80. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company's stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 187,679 shares of company stock valued at $6,752,491 in the last three months. Company insiders own 0.41% of the company's stock.
About HP
(
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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