HP Inc. (HPQ) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC grew its stake in shares of HP Inc. (NYSE:HPQ) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,246,617 shares of the computer maker’s stock after buying an additional 385,515 shares during the period. Geode Capital Management LLC’s holdings in HP were worth $413,637,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in HPQ. Oregon Public Employees Retirement Fund increased its position in HP by 2,609.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,544,575 shares of the computer maker’s stock worth $564,000 after buying an additional 11,118,507 shares in the last quarter. Boston Partners increased its position in HP by 5.4% during the fourth quarter. Boston Partners now owns 43,404,835 shares of the computer maker’s stock worth $888,063,000 after buying an additional 2,215,865 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in HP during the fourth quarter worth $32,908,000. RWC Asset Management LLP increased its position in HP by 509.0% during the fourth quarter. RWC Asset Management LLP now owns 1,872,039 shares of the computer maker’s stock worth $38,302,000 after buying an additional 1,564,641 shares in the last quarter. Finally, BlackRock Inc. increased its position in HP by 1.2% during the fourth quarter. BlackRock Inc. now owns 107,109,970 shares of the computer maker’s stock worth $2,191,471,000 after buying an additional 1,310,551 shares in the last quarter. 79.19% of the stock is owned by institutional investors.
In other news, CEO Dion J. Weisler sold 36,799 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.
HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The business had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $14.81 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Research analysts expect that HP Inc. will post 2.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Tuesday, June 11th. HP’s dividend payout ratio (DPR) is 31.68%.
HPQ has been the subject of several recent research reports. BMO Capital Markets reissued a “hold” rating and set a $22.00 price target on shares of HP in a research report on Wednesday, February 27th. Bank of America downgraded HP from a “buy” rating to an “underperform” rating and set a $19.00 price target for the company. in a research report on Thursday, February 28th. ValuEngine downgraded HP from a “hold” rating to a “sell” rating in a research report on Thursday, February 28th. JPMorgan Chase & Co. reissued a “hold” rating on shares of HP in a research report on Thursday, February 28th. Finally, Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. HP presently has a consensus rating of “Hold” and an average price target of $25.71.
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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.
Further Reading: Certificate of Deposit (CD)
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