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Principal Financial Group Inc. Purchases 160,268 Shares of HP Inc. (NYSE:HPQ)

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Principal Financial Group Inc. raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,153,924 shares of the computer maker's stock after purchasing an additional 160,268 shares during the period. Principal Financial Group Inc. owned 0.12% of HP worth $41,391,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in shares of HP during the 3rd quarter worth about $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock worth $35,000 after buying an additional 518 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of HP in the third quarter valued at approximately $37,000. Itau Unibanco Holding S.A. acquired a new stake in shares of HP in the third quarter worth $40,000. Finally, DecisionPoint Financial LLC bought a new position in HP during the second quarter worth $43,000. Institutional investors own 77.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HPQ shares. UBS Group raised 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. Bank of America downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. TD Cowen upped their price target on HP from $32.00 to $39.00 and gave the company a "hold" rating in a report on Wednesday, November 27th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. Finally, HSBC cut HP from a "buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.45.

View Our Latest Research Report on HP

Insider Activity at HP

In other news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company's stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares of the company's stock, valued at approximately $1,933,898.67. This trade represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,035 shares of company stock worth $9,312,568 in the last quarter. Corporate insiders own 0.41% of the company's stock.

HP Stock Up 0.6 %

HPQ stock traded up $0.21 during midday trading on Tuesday, reaching $33.44. 2,128,103 shares of the company's stock traded hands, compared to its average volume of 7,854,565. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The company has a market cap of $31.36 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.95 and a beta of 1.04. The company has a 50-day simple moving average of $36.18 and a two-hundred day simple moving average of $35.73.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analysts' expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.2894 dividend. This is a positive change from HP's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.46%. HP's payout ratio is 40.93%.

HP declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its stock is undervalued.

HP Company Profile

(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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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