Legal & General Group Plc raised its holdings in shares of HP Inc. (NYSE:HPQ) by 2.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,661,804 shares of the computer maker’s stock after acquiring an additional 254,793 shares during the period. Legal & General Group Plc owned about 0.75% of HP worth $185,211,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. grew its position in HP by 1.2% during the first quarter. BlackRock Inc. now owns 101,085,158 shares of the computer maker’s stock valued at $1,754,838,000 after acquiring an additional 1,181,797 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of HP by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 21,677,008 shares of the computer maker’s stock worth $444,674,000 after purchasing an additional 716,115 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of HP by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 18,852,872 shares of the computer maker’s stock worth $327,286,000 after purchasing an additional 116,446 shares during the last quarter. FMR LLC grew its holdings in shares of HP by 4.2% in the fourth quarter. FMR LLC now owns 18,474,119 shares of the computer maker’s stock worth $379,643,000 after purchasing an additional 751,296 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of HP by 107.5% in the first quarter. Nuveen Asset Management LLC now owns 17,289,519 shares of the computer maker’s stock worth $300,146,000 after purchasing an additional 8,956,663 shares during the last quarter. Institutional investors and hedge funds own 79.25% of the company’s stock.
In related news, CEO Enrique Lores purchased 13,500 shares of HP stock in a transaction dated Tuesday, June 2nd. The stock was purchased at an average cost of $16.47 per share, for a total transaction of $222,345.00. Also, Director Robert R. Bennett purchased 50,000 shares of HP stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $14.95 per share, with a total value of $747,500.00. Following the completion of the acquisition, the director now directly owns 110,216 shares of the company’s stock, valued at $1,647,729.20. The disclosure for this purchase can be found here. Insiders have bought 80,500 shares of company stock valued at $1,249,835 over the last 90 days. Corporate insiders own 0.28% of the company’s stock.
Several research analysts have recently issued reports on HPQ shares. Zacks Investment Research upgraded shares of HP from a “sell” rating to a “hold” rating and set a $16.00 target price on the stock in a report on Friday, May 29th. Deutsche Bank raised their target price on shares of HP from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, May 28th. Longbow Research cut their target price on shares of HP from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Morgan Stanley raised their target price on shares of HP from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Finally, Barclays reaffirmed a “hold” rating and issued a $19.00 price target on shares of HP in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.
HP stock traded down $1.05 on Thursday, hitting $15.84. 581,768 shares of the stock traded hands, compared to its average volume of 14,371,958. The firm has a market cap of $22.65 billion, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 5.48 and a beta of 0.99. The business’s fifty day simple moving average is $15.75 and its 200 day simple moving average is $18.71. HP Inc. has a 1 year low of $12.54 and a 1 year high of $23.93.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, May 27th. The computer maker reported $0.51 EPS for the quarter, beating the consensus estimate of $0.44 by $0.07. The business had revenue of $12.47 billion during the quarter, compared to analyst estimates of $12.78 billion. HP had a negative return on equity of 295.77% and a net margin of 5.27%. The company’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. On average, equities analysts forecast that HP Inc. will post 2.1 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th will be issued a dividend of $0.1762 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.70 annualized dividend and a dividend yield of 4.45%. HP’s payout ratio is presently 31.25%.
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.
See Also: How to invest in blue-chip stocks
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.