Allspring Global Investments Holdings LLC lessened its position in shares of HP Inc. (NYSE:HPQ – Free Report) by 62.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 80,175 shares of the computer maker’s stock after selling 131,025 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in HP were worth $2,353,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in HP by 114,461.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after purchasing an additional 11,528,558 shares during the last quarter. Maj Invest Holding A S acquired a new position in HP in the 4th quarter valued at about $175,923,000. Norges Bank acquired a new position in HP in the 4th quarter valued at about $151,025,000. Morgan Stanley increased its stake in shares of HP by 22.5% during the 4th quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock valued at $393,364,000 after acquiring an additional 2,686,976 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of HP by 51.5% during the 4th quarter. Pacer Advisors Inc. now owns 7,370,014 shares of the computer maker’s stock valued at $198,032,000 after acquiring an additional 2,504,059 shares during the last quarter. Institutional investors and hedge funds own 76.18% of the company’s stock.
HP Trading Up 0.7 %
HPQ opened at $31.13 on Friday. The company has a fifty day simple moving average of $30.24 and a 200 day simple moving average of $29.26. The firm has a market cap of $30.69 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.29 and a beta of 1.00. HP Inc. has a twelve month low of $24.08 and a twelve month high of $35.32.
HP Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be paid a dividend of $0.2625 per share. The ex-dividend date is Tuesday, September 12th. This represents a $1.05 dividend on an annualized basis and a yield of 3.37%. HP’s dividend payout ratio (DPR) is 39.77%.
Insider Transactions at HP
In other news, insider Alex Cho sold 22,490 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $30.50, for a total value of $685,945.00. Following the sale, the insider now owns 22,003 shares in the company, valued at approximately $671,091.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $29.31, for a total transaction of $122,076.15. Following the completion of the sale, the chief financial officer now owns 34,776 shares of the company’s stock, valued at approximately $1,019,284.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alex Cho sold 22,490 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $30.50, for a total transaction of $685,945.00. Following the sale, the insider now directly owns 22,003 shares of the company’s stock, valued at approximately $671,091.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,961 shares of company stock valued at $5,877,847. Insiders own 0.32% of the company’s stock.
Analyst Ratings Changes
HPQ has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of HP from $26.00 to $27.00 in a research note on Wednesday, May 31st. StockNews.com downgraded shares of HP from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Citigroup initiated coverage on shares of HP in a research note on Thursday, June 29th. They set a “neutral” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. raised shares of HP from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $35.00 in a research note on Monday, April 17th. Finally, UBS Group upped their price objective on shares of HP from $30.00 to $31.00 in a research note on Wednesday, May 31st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $29.88.
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.
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