DnB Asset Management AS Raises Stock Holdings in HP Inc. (NYSE:HPQ)

DnB Asset Management AS boosted its stake in HP Inc. (NYSE:HPQ) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,641 shares of the computer maker’s stock after purchasing an additional 5,086 shares during the quarter. DnB Asset Management AS’s holdings in HP were worth $45,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its position in HP by 11.1% during 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 in the last quarter. Pacer Advisors Inc. lifted its stake in HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after purchasing an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of HP by 7.7% in 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 purchasing an additional 612,675 shares in the last quarter. Finally, Norges Bank bought a new position in shares of HP during the 4th quarter valued at about $229,320,000. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of recent research reports. HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Barclays upped their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Loop Capital decreased their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. TD Cowen cut their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Finally, StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, HP has an average rating of “Hold” and an average target price of $36.14.

HP Stock Performance

HPQ opened at $28.68 on Friday. The stock’s 50 day moving average price is $31.57 and its 200-day moving average price is $34.02. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The stock has a market capitalization of $27.03 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

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

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.