iA Global Asset Management Inc. Increases Stock Position in HP Inc. (NYSE:HPQ)

iA Global Asset Management Inc. increased its position in HP Inc. (NYSE:HPQ) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,366 shares of the computer maker’s stock after acquiring an additional 2,827 shares during the period. iA Global Asset Management Inc.’s holdings in HP were worth $1,709,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new stake in HP during the 4th quarter valued at $5,241,000. Royal London Asset Management Ltd. raised its stake in HP by 4.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 431,344 shares of the computer maker’s stock valued at $14,075,000 after buying an additional 18,840 shares during the last quarter. Investment House LLC raised its stake in HP by 0.9% during the 4th quarter. Investment House LLC now owns 291,597 shares of the computer maker’s stock valued at $9,515,000 after buying an additional 2,490 shares during the last quarter. Brooklyn FI LLC purchased a new stake in HP during the 4th quarter valued at $9,162,000. Finally, Xponance Inc. raised its stake in HP by 6.4% during the 4th quarter. Xponance Inc. now owns 176,539 shares of the computer maker’s stock valued at $5,760,000 after buying an additional 10,667 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of HP stock opened at $28.63 on Friday. The company has a market capitalization of $26.98 billion, a P/E ratio of 10.19, a P/E/G ratio of 2.96 and a beta of 1.09. The company has a fifty day moving average of $31.88 and a 200 day moving average of $34.18. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. Analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of research reports. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Sanford C. Bernstein upped their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Loop Capital reduced their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Finally, TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.14.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

About HP

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.