AIA Group Ltd Grows Position in HP Inc. (NYSE:HPQ)

AIA Group Ltd increased its stake in shares of HP Inc. (NYSE:HPQFree Report) by 1.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,000 shares of the computer maker’s stock after purchasing an additional 500 shares during the period. AIA Group Ltd’s holdings in HP were worth $822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. KCS Wealth Advisory raised its holdings in shares of HP by 1.0% during the second quarter. KCS Wealth Advisory now owns 36,325 shares of the computer maker’s stock valued at $1,116,000 after purchasing an additional 362 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of HP by 3.2% during the second quarter. King Luther Capital Management Corp now owns 11,927 shares of the computer maker’s stock valued at $366,000 after purchasing an additional 368 shares during the last quarter. First Command Bank raised its holdings in shares of HP by 25.4% during the second quarter. First Command Bank now owns 1,870 shares of the computer maker’s stock valued at $57,000 after purchasing an additional 379 shares during the last quarter. Horizon Investments LLC grew its position in HP by 3.3% during the second quarter. Horizon Investments LLC now owns 12,002 shares of the computer maker’s stock valued at $369,000 after buying an additional 379 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in HP by 0.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 80,573 shares of the computer maker’s stock valued at $2,474,000 after buying an additional 398 shares during the period. 76.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Alex Cho sold 45,758 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.24, for a total value of $1,337,963.92. Following the transaction, the insider now directly owns 22,003 shares in the company, valued at $643,367.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other HP news, insider Alex Cho sold 45,758 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.24, for a total transaction of $1,337,963.92. Following the transaction, the insider now directly owns 22,003 shares in the company, valued at approximately $643,367.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 38,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the transaction, the chief executive officer now owns 888,911 shares in the company, valued at $26,445,102.25. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the subject of several recent research reports. Morgan Stanley upgraded shares of HP from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $31.00 to $35.00 in a research report on Tuesday, December 12th. StockNews.com upgraded shares of HP from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 19th. Citigroup upgraded shares of HP from a “neutral” rating to a “buy” rating and boosted their target price for the company from $31.00 to $33.00 in a research report on Monday, November 13th. Bank of America upgraded shares of HP from an “underperform” rating to a “buy” rating and boosted their target price for the company from $25.00 to $33.00 in a research report on Tuesday, October 3rd. Finally, Edward Jones upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, HP presently has an average rating of “Moderate Buy” and a consensus target price of $32.22.

Check Out Our Latest Research Report on HPQ

HP Stock Performance

Shares of NYSE:HPQ opened at $28.65 on Thursday. The firm has a fifty day moving average price of $29.41 and a 200 day moving average price of $29.41. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90. The firm has a market cap of $28.39 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 1.72 and a beta of 1.04.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.90 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.90. The company had revenue of $13.82 billion for the quarter, compared to the consensus estimate of $13.79 billion. HP had a net margin of 6.13% and a negative return on equity of 138.83%. HP’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. As a group, research analysts predict that HP Inc. will post 3.45 earnings per share for the current year.

HP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were paid a $0.2756 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.85%. This is an increase from HP’s previous quarterly dividend of $0.26. HP’s dividend payout ratio is currently 33.43%.

HP Profile

(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.

See Also

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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