Royal London Asset Management Ltd. Has $10.99 Million Stake in HP Inc. (NYSE:HPQ)

Royal London Asset Management Ltd. cut its position in shares of HP Inc. (NYSE:HPQFree Report) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,319 shares of the computer maker’s stock after selling 15,642 shares during the quarter. Royal London Asset Management Ltd.’s holdings in HP were worth $10,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. grew its holdings in shares of HP by 6.4% in the 3rd quarter. D.A. Davidson & CO. now owns 12,560 shares of the computer maker’s stock valued at $323,000 after acquiring an additional 761 shares in the last quarter. Van ECK Associates Corp increased its position in shares of HP by 9.6% during the 3rd quarter. Van ECK Associates Corp now owns 27,858 shares of the computer maker’s stock worth $716,000 after purchasing an additional 2,434 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of HP by 29.2% during the 3rd quarter. HighTower Advisors LLC now owns 229,454 shares of the computer maker’s stock worth $5,889,000 after purchasing an additional 51,823 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of HP by 2,231.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 111,610 shares of the computer maker’s stock valued at $2,868,000 after buying an additional 106,823 shares during the last quarter. Finally, Kestra Advisory Services LLC grew its stake in shares of HP by 7.1% in the third quarter. Kestra Advisory Services LLC now owns 26,032 shares of the computer maker’s stock valued at $669,000 after buying an additional 1,732 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

HP Stock Performance

Shares of HPQ stock traded down $0.94 on Friday, hitting $35.51. The company’s stock had a trading volume of 8,582,423 shares, compared to its average volume of 10,355,336. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The stock’s 50 day moving average is $31.22 and its 200-day moving average is $30.14. The company has a market capitalization of $34.75 billion, a PE ratio of 12.00, a PEG ratio of 2.26 and a beta of 1.12.

HP (NYSE:HPQGet Free Report) last announced its earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. On average, research analysts forecast that HP Inc. will post 3.45 earnings per share for the current year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is currently 37.16%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of recent analyst reports. Barclays increased their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, May 30th. Morgan Stanley boosted their price target on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Wells Fargo & Company raised their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Bank of America raised their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.64.

Check Out Our Latest Report on HPQ

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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