HP Inc. (NYSE:HPQ) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its stake in shares of HP Inc. (NYSE:HPQ) by 55.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,878 shares of the computer maker’s stock after purchasing an additional 7,131 shares during the quarter. E Fund Management Co. Ltd.’s holdings in HP were worth $649,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its position in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC boosted its position in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares during the period. Pacer Advisors Inc. boosted its position in HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after acquiring an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after acquiring an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in HP by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock worth $222,985,000 after acquiring an additional 90,606 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 2.0 %

Shares of HP stock opened at $30.56 on Friday. The stock’s fifty day moving average is $32.76 and its 200-day moving average is $34.65. The firm has a market capitalization of $28.80 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.79%. HP’s dividend payout ratio is 41.37%.

Insider Activity

In other HP news, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares in the company, valued at $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,737 shares of company stock worth $9,316,641. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HPQ. Citigroup reduced their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Loop Capital dropped their price objective on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Morgan Stanley dropped their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, HP currently has an average rating of “Hold” and a consensus target price of $36.14.

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.