KLP Kapitalforvaltning AS Makes New $16.29 Million Investment in HP Inc. (NYSE:HPQ)

KLP Kapitalforvaltning AS acquired a new position in HP Inc. (NYSE:HPQ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 495,316 shares of the computer maker's stock, valued at approximately $16,285,000. KLP Kapitalforvaltning AS owned approximately 0.05% of HP as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Synergy Asset Management LLC purchased a new position in shares of HP during the 4th quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP during the 4th quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP during the 3rd quarter valued at $40,000. OFI Invest Asset Management bought a new stake in shares of HP in the 4th quarter worth about $37,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of HP in the third quarter worth about $44,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HPQ has been the subject of a number of research reports. StockNews.com raised shares of HP from a "hold" rating to a "buy" rating in a research note on Thursday. TD Cowen cut their price target on HP from $39.00 to $38.00 and set a "hold" rating for the company in a report on Friday, February 28th. Hsbc Global Res lowered shares of HP from a "strong-buy" rating to a "hold" rating in a report on Friday, November 29th. Morgan Stanley reduced their price objective on shares of HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Finally, HSBC lowered HP from a "buy" rating to a "hold" rating and cut their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $36.14.

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HP Stock Down 0.6 %

NYSE HPQ traded down $0.17 on Thursday, reaching $28.54. 1,527,796 shares of the stock traded hands, compared to its average volume of 7,151,203. The firm's fifty day simple moving average is $31.64 and its 200 day simple moving average is $34.06. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80. The company has a market cap of $26.90 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 1.09.

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

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's payout ratio is 41.37%.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly 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 document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.

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.