Xponance Inc. Boosts Stock Position in HP Inc. (NYSE:HPQ)

Xponance Inc. grew its stake in shares of HP Inc. (NYSE:HPQ) by 6.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 176,539 shares of the computer maker’s stock after buying an additional 10,667 shares during the period. Xponance Inc.’s holdings in HP were worth $5,760,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in HPQ. State Street Corp lifted its position in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its stake in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the period. KBC Group NV raised its stake in HP by 145.1% during the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in HP during the 4th quarter valued at approximately $65,260,000. Finally, Pacer Advisors Inc. raised its stake in HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing an additional 1,455,138 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was 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 in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

HP Stock Performance

NYSE HPQ opened at $28.76 on Thursday. The company has a market cap of $27.11 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.96 and a beta of 1.09. The business’s 50 day moving average price is $32.07 and its 200-day moving average price is $34.28. 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 earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, equities analysts predict that HP Inc. will post 3.56 EPS 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 issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HPQ. Morgan Stanley decreased their target price on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Citigroup decreased their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Barclays lifted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Finally, StockNews.com raised HP from a “hold” rating to a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.14.

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.