Invesco Ltd. Acquires 643,192 Shares of HP Inc. (NYSE:HPQ)

Invesco Ltd. lifted its stake in HP Inc. (NYSE:HPQ - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,511,218 shares of the computer maker's stock after acquiring an additional 643,192 shares during the period. Invesco Ltd. owned 1.01% of HP worth $310,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new stake in HP in the fourth quarter worth approximately $229,320,000. Geode Capital Management LLC lifted its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV boosted its stake in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $116,031,000 after buying an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in HP during the fourth quarter worth about $65,260,000. Finally, Raymond James Financial Inc. bought a new stake in HP in the fourth quarter worth about $36,492,000. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the topic of several recent research reports. Barclays lifted their price objective on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Loop Capital dropped their price target on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, March 4th. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company boosted their target price on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, StockNews.com lowered HP from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued 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.

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Insider Buying and Selling

In related news, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction on Monday, March 24th. The shares were 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 is available through this link. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

HP Stock Performance

Shares of NYSE HPQ traded up $0.55 during mid-day trading on Friday, reaching $23.42. The company had a trading volume of 10,168,027 shares, compared to its average volume of 7,806,852. The stock has a fifty day moving average of $29.45 and a two-hundred day moving average of $33.13. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.2894 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.94%. HP's payout ratio is 41.37%.

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.