Dynamic Technology Lab Private Ltd Purchases New Position in HP Inc. (NYSE:HPQ)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 28,212 shares of the computer maker’s stock, valued at approximately $921,000.

A number of other institutional investors have also recently added to or reduced their stakes in HPQ. Geode Capital Management LLC raised its holdings in shares of HP by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Pacer Advisors Inc. increased its position 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 buying an additional 592,391 shares during the last quarter. Norges Bank bought a new position in HP during the fourth quarter valued at about $229,320,000. Charles Schwab Investment Management Inc. lifted its position in shares of HP by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock worth $222,985,000 after buying an additional 90,606 shares during the last quarter. Finally, Amundi boosted its stake in shares of HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after acquiring an additional 899,349 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, 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. Corporate insiders own 0.38% of the company’s stock.

HP Trading Down 5.0 %

HPQ opened at $22.58 on Monday. The stock’s 50 day simple moving average is $30.78 and its 200-day simple moving average is $33.71. The stock has a market cap of $21.29 billion, a PE ratio of 8.04, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $21.40 and a 1 year high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $13.50 billion for 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%. Equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date was Wednesday, March 12th. HP’s payout ratio is 41.37%.

Analyst Ratings Changes

HPQ has been the subject of several analyst reports. Barclays boosted 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. Wells Fargo & Company upped their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. TD Cowen dropped their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Finally, Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. 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 stock. Based on data from MarketBeat.com, the stock 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.