DnB Asset Management AS Buys 5,086 Shares of HP Inc. (NYSE:HPQ)

DnB Asset Management AS boosted its position in HP Inc. (NYSE:HPQ) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,641 shares of the computer maker’s stock after buying an additional 5,086 shares during the period. DnB Asset Management AS owned approximately 0.15% of HP worth $45,540,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of HP by 10.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,228 shares of the computer maker’s stock worth $2,303,000 after purchasing an additional 6,299 shares in the last quarter. DRW Securities LLC acquired a new position in HP during the third quarter worth $207,000. The Manufacturers Life Insurance Company grew its holdings in shares of HP by 8.6% during the third quarter. The Manufacturers Life Insurance Company now owns 786,641 shares of the computer maker’s stock valued at $28,217,000 after buying an additional 62,346 shares during the last quarter. Townsquare Capital LLC increased its position in shares of HP by 72.6% during the third quarter. Townsquare Capital LLC now owns 14,725 shares of the computer maker’s stock worth $528,000 after acquiring an additional 6,192 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of HP by 201.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 480,829 shares of the computer maker’s stock worth $17,247,000 after acquiring an additional 321,455 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Thursday. Loop Capital dropped their price objective on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Barclays boosted their price target on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HP currently has an average rating of “Hold” and a consensus target price of $36.14.

HP Trading Down 0.1 %

NYSE:HPQ opened at $28.68 on Friday. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80. The firm’s 50 day moving average is $31.57 and its 200 day moving average is $34.02. The stock has a market capitalization of $27.03 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. Research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.04%. HP’s dividend payout ratio is 41.37%.

HP 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.