Pensionfund Sabic Increases Position in HP Inc. (NYSE:HPQ)

Pensionfund Sabic raised its position in shares of HP Inc. (NYSE:HPQ) by 41.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,500 shares of the computer maker’s stock after buying an additional 13,000 shares during the period. Pensionfund Sabic’s holdings in HP were worth $1,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of HPQ. Van ECK Associates Corp grew its position in HP by 12.9% in the 2nd quarter. Van ECK Associates Corp now owns 35,411 shares of the computer maker’s stock valued at $1,240,000 after acquiring an additional 4,042 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of HP in the second quarter valued at approximately $251,000. TD Asset Management Inc increased its stake in HP by 21.6% during the 2nd quarter. TD Asset Management Inc now owns 713,250 shares of the computer maker’s stock worth $24,978,000 after buying an additional 126,660 shares during the period. Arizona State Retirement System lifted its holdings in HP by 5.0% during the 2nd quarter. Arizona State Retirement System now owns 283,667 shares of the computer maker’s stock worth $9,934,000 after buying an additional 13,529 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in HP by 40.6% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 1,474 shares of the computer maker’s stock valued at $52,000 after buying an additional 426 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Stock Up 2.5 %

Shares of NYSE HPQ traded up $0.83 on Monday, hitting $33.97. The company had a trading volume of 544,081 shares, compared to its average volume of 3,455,621. The business has a 50 day moving average of $35.50 and a two-hundred day moving average of $35.52. The firm has a market capitalization of $31.86 billion, a P/E ratio of 12.09, a PEG ratio of 2.95 and a beta of 1.05. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the company earned $0.90 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a dividend of $0.2894 per share. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. HP’s dividend payout ratio is currently 40.93%.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. HSBC lowered HP from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. TD Cowen boosted their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays lifted their price objective on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Citigroup dropped their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.23.

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.