Xact Kapitalforvaltning AB raised its stake in HP Inc (NYSE:HPQ) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 283,528 shares of the computer maker’s stock after purchasing an additional 22,444 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in HP were worth $5,957,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of HPQ. Envestnet Asset Management Inc. boosted its stake in shares of HP by 99.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 460,062 shares of the computer maker’s stock worth $9,666,000 after acquiring an additional 229,398 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of HP by 5.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 913,660 shares of the computer maker’s stock worth $19,196,000 after acquiring an additional 46,634 shares during the period. We Are One Seven LLC bought a new position in shares of HP during the 4th quarter worth approximately $156,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of HP by 47.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 115,107 shares of the computer maker’s stock worth $2,418,000 after acquiring an additional 37,300 shares during the period. Finally, Banco de Sabadell S.A bought a new position in shares of HP during the 4th quarter worth approximately $1,382,000. Hedge funds and other institutional investors own 80.33% of the company’s stock.
Several brokerages have recently commented on HPQ. ValuEngine downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $22.13 to $28.00 in a research note on Monday, February 26th. Susquehanna Bancshares set a $22.00 target price on HP and gave the stock a “hold” rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $28.00 target price on shares of HP in a research note on Friday, February 23rd. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $23.94.
HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 22nd. The computer maker reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The business had revenue of $14.52 billion during the quarter, compared to the consensus estimate of $13.47 billion. HP had a negative return on equity of 82.30% and a net margin of 7.15%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. equities analysts predict that HP Inc will post 1.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be issued a $0.1393 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 annualized dividend and a yield of 2.55%. HP’s dividend payout ratio is presently 24.45%.
In other HP news, insider Marie Myers sold 10,000 shares of HP stock in a transaction on Friday, December 29th. The stock was sold at an average price of $21.20, for a total value of $212,000.00. Following the completion of the transaction, the insider now directly owns 11,966 shares of the company’s stock, valued at approximately $253,679.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jon E. Flaxman sold 207,806 shares of HP stock in a transaction on Friday, January 5th. The shares were sold at an average price of $21.58, for a total value of $4,484,453.48. Following the completion of the transaction, the chief operating officer now directly owns 298,538 shares of the company’s stock, valued at $6,442,450.04. The disclosure for this sale can be found here. Insiders sold a total of 545,699 shares of company stock valued at $12,306,389 over the last ninety days. Insiders own 0.25% of the company’s stock.
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HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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