Wellington Management Group LLP grew its holdings in HP Inc. (NYSE:HPQ - Free Report) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,257 shares of the computer maker's stock after purchasing an additional 28,910 shares during the quarter. Wellington Management Group LLP's holdings in HP were worth $8,460,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in shares of HP in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP in the fourth quarter valued at approximately $31,000. OFI Invest Asset Management purchased a new stake in HP during the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new position in HP in the 4th quarter valued at approximately $50,000. Finally, Summit Securities Group LLC acquired a new position in shares of HP in the fourth quarter worth $55,000. Institutional investors and hedge funds own 77.53% of the company's stock.
Insider Activity
In other news, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction 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 filing with the SEC, which is accessible through this link. Also, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.
HP Stock Down 0.6 %
NYSE:HPQ traded down $0.15 during midday trading on Wednesday, reaching $23.60. The stock had a trading volume of 986,487 shares, compared to its average volume of 7,804,036. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The firm has a fifty day simple moving average of $29.11 and a two-hundred day simple moving average of $32.96. The stock has a market cap of $22.24 billion, a P/E ratio of 8.39, a P/E/G ratio of 2.96 and a beta of 1.09.
HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.
HP Dividend Announcement
The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.91%. HP's dividend payout ratio is currently 41.37%.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on HPQ. Barclays lifted their target price on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley lowered their price objective 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. Loop Capital lowered their price target on shares of 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 objective on shares of HP from $36.50 to $25.00 and set a "neutral" rating for the company in a research report on Monday. Finally, StockNews.com cut HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, HP currently has an average rating of "Hold" and a consensus target price of $35.09.
Check Out Our Latest Research Report on HP
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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