Royal London Asset Management Ltd. Buys 18,840 Shares of HP Inc. (NYSE:HPQ)

Royal London Asset Management Ltd. raised its holdings in HP Inc. (NYSE:HPQ - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 431,344 shares of the computer maker's stock after buying an additional 18,840 shares during the quarter. Royal London Asset Management Ltd.'s holdings in HP were worth $14,075,000 at the end of the most recent quarter.

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

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred 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 SEC, which is available at the SEC website. Company insiders own 0.38% of the company's stock.

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Analyst Upgrades and Downgrades

HPQ has been the subject of a number of research reports. Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. HSBC downgraded shares of HP from a "buy" rating to a "hold" rating and decreased their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Hsbc Global Res cut HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $36.14.

HP Stock Performance

Shares of HPQ stock traded down $0.10 during mid-day trading on Wednesday, hitting $28.71. The company's stock had a trading volume of 6,356,456 shares, compared to its average volume of 7,171,701. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.96 and a beta of 1.09. The business has a 50-day moving average price of $31.73 and a 200 day moving average price of $34.09.

HP (NYSE:HPQ - Get Free Report) last posted 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. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.35 billion. Equities research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. 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.