State Street Corp Has $1.87 Billion Stake in HP Inc. (NYSE:HPQ)

State Street Corp boosted its position in HP Inc. (NYSE:HPQ - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,801,428 shares of the computer maker's stock after acquiring an additional 3,923,161 shares during the period. State Street Corp owned 5.38% of HP worth $1,871,046,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LVW Advisors LLC lifted its stake in HP by 1.2% in the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker's stock valued at $857,000 after buying an additional 278 shares during the period. Castleview Partners LLC increased its stake in shares of HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker's stock valued at $138,000 after acquiring an additional 289 shares during the last quarter. Versant Capital Management Inc raised its position in shares of HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker's stock valued at $191,000 after acquiring an additional 297 shares during the period. King Luther Capital Management Corp boosted its stake in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker's stock worth $346,000 after acquiring an additional 303 shares during the last quarter. Finally, Arvest Investments Inc. grew its holdings in HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker's stock valued at $1,232,000 after purchasing an additional 310 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HPQ shares. Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Wednesday, November 20th. Hsbc Global Res lowered HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. UBS Group lifted their price objective on HP from $34.00 to $37.00 and gave the company a "neutral" rating in a report on Thursday, August 29th. Finally, Morgan Stanley lowered their target price on HP from $37.00 to $36.00 and set an "equal weight" rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $36.77.

HP Stock Up 0.1 %

Shares of HPQ stock traded up $0.03 during trading on Friday, reaching $36.20. The company's stock had a trading volume of 6,583,550 shares, compared to its average volume of 8,358,639. The company has a market cap of $34.89 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 3.10 and a beta of 1.04. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The business has a fifty day moving average price of $36.63 and a 200-day moving average price of $35.75.

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

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a dividend of $0.2894 per share. This is a positive change from HP's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.20%. HP's payout ratio is 39.15%.

HP announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares of the company's stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Cho sold 10,298 shares of the firm's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now directly owns 64,676 shares of the company's stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

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.