HP Inc. (NYSE:HPQ) Holdings Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in HP Inc. (NYSE:HPQ) by 293.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,135 shares of the computer maker’s stock after acquiring an additional 142,501 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in HP were worth $6,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. King Luther Capital Management Corp raised its position in HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after acquiring an additional 303 shares in the last quarter. Arvest Investments Inc. grew its stake in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in HP by 4.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after acquiring an additional 316 shares in the last quarter. Wedmont Private Capital grew its stake in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares in the last quarter. Finally, Old Port Advisors increased its holdings in HP by 3.4% in the third quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock worth $345,000 after buying an additional 317 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Activity

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

HP Trading Up 1.5 %

Shares of NYSE HPQ opened at $34.72 on Thursday. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The stock has a 50 day moving average of $33.10 and a 200-day moving average of $34.81. The company has a market capitalization of $32.56 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.87 and a beta of 1.05.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. Analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.33%. HP’s payout ratio is 41.28%.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of research reports. HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. TD Cowen increased their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Barclays increased their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP presently has an average rating of “Hold” and an average target price of $36.23.

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.