HP Inc. (NYSE:HPQ) Shares Acquired by ING Groep NV

ING Groep NV lifted its stake in HP Inc. (NYSE:HPQFree Report) by 551.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 720,725 shares of the computer maker’s stock after acquiring an additional 610,136 shares during the period. ING Groep NV’s holdings in HP were worth $21,687,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HPQ. Allspring Global Investments Holdings LLC grew its position in shares of HP by 1.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 81,686 shares of the computer maker’s stock valued at $2,099,000 after buying an additional 1,113 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of HP by 1.8% in the 3rd quarter. Panagora Asset Management Inc. now owns 36,196 shares of the computer maker’s stock valued at $930,000 after buying an additional 641 shares during the last quarter. Allworth Financial LP grew its position in shares of HP by 2.8% in the 3rd quarter. Allworth Financial LP now owns 40,506 shares of the computer maker’s stock valued at $1,041,000 after buying an additional 1,106 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of HP by 14.9% in the 3rd quarter. Teacher Retirement System of Texas now owns 87,826 shares of the computer maker’s stock valued at $2,257,000 after buying an additional 11,416 shares during the last quarter. Finally, Wealthfront Advisers LLC grew its position in shares of HP by 8.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock valued at $1,608,000 after buying an additional 5,064 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Up 0.4 %

Shares of NYSE:HPQ traded up $0.12 during midday trading on Friday, hitting $31.19. The stock had a trading volume of 4,618,189 shares, compared to its average volume of 6,210,837. The company has a market capitalization of $30.59 billion, a PE ratio of 9.12, a P/E/G ratio of 2.60 and a beta of 1.06. The stock has a 50 day moving average price of $29.32 and a two-hundred day moving average price of $29.17. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90.

HP (NYSE:HPQGet Free Report) last issued its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities analysts expect that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Wednesday, June 12th will be paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, June 12th. HP’s dividend payout ratio (DPR) is 32.16%.

Analysts Set New Price Targets

HPQ has been the topic of several research reports. Bank of America raised their price objective on shares of HP from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays raised their price objective on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, HSBC raised shares of HP from a “hold” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, HP has a consensus rating of “Moderate Buy” and a consensus price target of $33.33.

Read Our Latest Research Report on HPQ

Insider Activity at HP

In related news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock worth $3,479,287 over the last 90 days. Company insiders own 0.41% of the company’s stock.

About HP

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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