CX Institutional Raises Stock Holdings in HP Inc. (NYSE:HPQ)

CX Institutional grew its stake in HP Inc. (NYSE:HPQ) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 12,151 shares of the computer maker’s stock after purchasing an additional 575 shares during the quarter. CX Institutional’s holdings in HP were worth $396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its holdings in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC increased its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the period. Pacer Advisors Inc. increased its holdings in shares of HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing an additional 1,455,138 shares during the period. Legal & General Group Plc increased its holdings in shares of HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of HP by 7.7% in the third 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 valued at $307,816,000 after purchasing an additional 612,675 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Down 2.0 %

Shares of NYSE:HPQ opened at $32.73 on Monday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The stock’s fifty day simple moving average is $34.38 and its 200-day simple moving average is $35.27. The company has a market capitalization of $30.69 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.83 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the prior year, the business earned $0.90 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. The ex-dividend date was Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.54%. HP’s dividend payout ratio is 41.28%.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Barclays upped their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. dropped their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. TD Cowen upped their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Sanford C. Bernstein upped their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.23.

About HP

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.