Rockefeller Capital Management L.P. Raises Stock Position in HP Inc. (NYSE:HPQ)

Rockefeller Capital Management L.P. lifted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 28.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,278 shares of the computer maker's stock after purchasing an additional 21,646 shares during the period. Rockefeller Capital Management L.P.'s holdings in HP were worth $3,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Barclays PLC lifted 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. Te Ahumairangi Investment Management Ltd lifted its holdings in HP by 3.4% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker's stock valued at $5,757,000 after acquiring an additional 5,360 shares during the last quarter. Pine Valley Investments Ltd Liability Co purchased a new position in HP in the third quarter worth approximately $237,000. World Investment Advisors LLC acquired a new stake in HP during the third quarter worth $324,000. Finally, Arvest Bank Trust Division acquired a new position in shares of HP in the 3rd quarter valued at $11,745,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

Shares of HP stock traded up $0.40 during trading hours on Thursday, hitting $25.03. The company had a trading volume of 1,834,085 shares, compared to its average volume of 7,849,345. The company's 50-day moving average is $28.01 and its two-hundred day moving average is $32.50. The company has a market cap of $23.60 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

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 analysts' consensus estimates of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.62%. The ex-dividend date was Wednesday, March 12th. HP's dividend payout ratio is presently 41.37%.

Insiders Place Their Bets

In related news, 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 completion of the sale, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. This trade represents a 99.22 % 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, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company upped their target price on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Loop Capital lowered their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. TD Cowen cut their target price on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Finally, StockNews.com lowered HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $34.00.

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.