National Bank of Canada FI Acquires 291,525 Shares of HP Inc. (NYSE:HPQ)

National Bank of Canada FI grew its holdings in HP Inc. (NYSE:HPQ) by 71.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 698,376 shares of the computer maker’s stock after purchasing an additional 291,525 shares during the quarter. National Bank of Canada FI owned approximately 0.07% of HP worth $22,788,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HPQ. Franklin Resources Inc. lifted its holdings in HP by 36.0% during the fourth quarter. Franklin Resources Inc. now owns 1,369,511 shares of the computer maker’s stock worth $44,687,000 after buying an additional 362,241 shares during the period. Summit Financial LLC lifted its stake in shares of HP by 29.5% during the 4th quarter. Summit Financial LLC now owns 10,958 shares of the computer maker’s stock worth $360,000 after purchasing an additional 2,498 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in HP during the fourth quarter valued at about $265,000. Wellington Management Group LLP grew its stake in HP by 12.6% in the fourth quarter. Wellington Management Group LLP now owns 259,257 shares of the computer maker’s stock valued at $8,460,000 after purchasing an additional 28,910 shares during the last quarter. Finally, Walled Lake Planning & Wealth Management LLC raised its holdings in HP by 3.3% in the fourth quarter. Walled Lake Planning & Wealth Management LLC now owns 49,070 shares of the computer maker’s stock worth $1,601,000 after purchasing an additional 1,588 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

HP Stock Down 14.7 %

Shares of NYSE HPQ opened at $23.78 on Friday. HP Inc. has a 52 week low of $22.95 and a 52 week high of $39.80. The business’s 50 day moving average price is $30.98 and its 200 day moving average price is $33.79. The firm has a market cap of $22.42 billion, a P/E ratio of 8.46, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.87%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Ratings Changes

HPQ has been the topic of a number of recent analyst reports. Sanford C. Bernstein raised their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Loop Capital dropped their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Finally, Barclays raised their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.14.

HP 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.