Raymond James Financial Inc. Acquires Shares of 1,118,357 HP Inc. (NYSE:HPQ)

Raymond James Financial Inc. purchased a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,118,357 shares of the computer maker's stock, valued at approximately $36,492,000. Raymond James Financial Inc. owned about 0.12% of HP as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. State Street Corp lifted its position in shares of 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 purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC increased its stake in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV lifted its holdings in HP by 145.1% during the 4th 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 purchased a new stake in HP in the 4th quarter valued at about $65,260,000. Finally, Pacer Advisors Inc. grew its stake in HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock worth $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

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HP Trading Up 1.7 %

Shares of HPQ traded up $0.50 during midday trading on Monday, hitting $28.91. 6,395,143 shares of the company's stock traded hands, compared to its average volume of 7,123,775. The stock has a market capitalization of $27.25 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $27.43 and a 1 year high of $39.80. The firm's fifty day moving average is $32.36 and its 200-day moving average is $34.41.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 yield of 4.00%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's dividend payout ratio (DPR) is presently 41.37%.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated 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 sale, the insider now owns 6,277 shares of the company's stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HPQ. Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Barclays lifted their target price on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. StockNews.com downgraded HP from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Citigroup cut their price target on HP from $37.00 to $36.50 and set a "neutral" rating on the stock in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein upped their price target 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, HP has an average rating of "Hold" and an average target price of $36.14.

About HP

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.