HP Inc. (NYSE:HPQ) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in HP Inc. (NYSE:HPQ) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,956 shares of the computer maker’s stock after acquiring an additional 88,822 shares during the period. Assenagon Asset Management S.A.’s holdings in HP were worth $10,864,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HPQ. Oppenheimer Asset Management Inc. acquired a new position in shares of HP during the 2nd quarter worth $255,000. Edgestream Partners L.P. purchased a new position in HP during the 2nd quarter valued at about $563,000. Wealth Alliance acquired a new position in HP during the second quarter worth about $244,000. Seven Eight Capital LP purchased a new stake in shares of HP in the second quarter valued at about $701,000. Finally, XTX Topco Ltd grew its position in shares of HP by 10.0% in the second quarter. XTX Topco Ltd now owns 23,495 shares of the computer maker’s stock valued at $823,000 after purchasing an additional 2,130 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HPQ. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 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 on the stock in a research report on Wednesday, November 27th. TD Cowen lifted their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.23.

HP Stock Up 0.6 %

Shares of HPQ opened at $32.53 on Friday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company’s fifty day moving average is $34.78 and its two-hundred day moving average is $35.34. The firm has a market cap of $30.51 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 2.83 and a beta of 1.05.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a $0.2894 dividend. 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 annualized dividend and a yield of 3.56%. HP’s dividend payout ratio (DPR) is presently 41.28%.

Insider Buying and Selling at HP

In related news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kristen M. Ludgate sold 74,356 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the transaction, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

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.