Royal London Asset Management Ltd. Purchases 18,840 Shares of HP Inc. (NYSE:HPQ)

Royal London Asset Management Ltd. grew its position in shares of HP Inc. (NYSE:HPQ) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 431,344 shares of the computer maker’s stock after buying an additional 18,840 shares during the period. Royal London Asset Management Ltd.’s holdings in HP were worth $14,075,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HPQ. Synergy Asset Management LLC bought a new position in HP during the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in HP during the 4th quarter worth $31,000. OFI Invest Asset Management bought a new position in HP during the 4th quarter worth $37,000. Itau Unibanco Holding S.A. bought a new position in HP during the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC bought a new position in HP during the 3rd quarter worth $44,000. Institutional investors own 77.53% of the company’s stock.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

HP Stock Up 0.4 %

NYSE:HPQ opened at $28.63 on Friday. The stock’s 50-day simple moving average is $31.88 and its 200 day simple moving average is $34.18. The firm has a market capitalization of $26.98 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80.

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

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is 41.37%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HPQ shares. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Citigroup reduced their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Morgan Stanley reduced their target price on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Loop Capital reduced their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. Finally, Barclays increased their target price 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 assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average 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.