HP Inc. (NYSE:HPQ) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in HP Inc. (NYSE:HPQ) by 27.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,434,643 shares of the computer maker’s stock after acquiring an additional 309,880 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of HP worth $44,003,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HPQ. KCS Wealth Advisory grew its stake in shares of HP by 1.0% during the 2nd quarter. KCS Wealth Advisory now owns 36,325 shares of the computer maker’s stock worth $1,116,000 after acquiring an additional 362 shares in the last quarter. First Command Bank grew its stake in shares of HP by 25.4% during the 2nd quarter. First Command Bank now owns 1,870 shares of the computer maker’s stock worth $57,000 after acquiring an additional 379 shares in the last quarter. Vantage Consulting Group Inc grew its stake in shares of HP by 2.1% during the 1st quarter. Vantage Consulting Group Inc now owns 18,550 shares of the computer maker’s stock worth $544,000 after acquiring an additional 386 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of HP by 0.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 80,573 shares of the computer maker’s stock valued at $2,474,000 after buying an additional 398 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of HP by 5.9% in the second quarter. Lindbrook Capital LLC now owns 7,194 shares of the computer maker’s stock valued at $221,000 after buying an additional 399 shares in the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.

Insider Activity at HP

In related news, major shareholder Berkshire Hathaway Inc sold 1,596,922 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $25.70, for a total value of $41,040,895.40. Following the completion of the transaction, the insider now owns 100,922,113 shares of the company’s stock, valued at $2,593,698,304.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Berkshire Hathaway Inc sold 1,596,922 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $25.70, for a total value of $41,040,895.40. Following the completion of the transaction, the insider now owns 100,922,113 shares of the company’s stock, valued at $2,593,698,304.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marie Myers sold 4,165 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.00, for a total value of $124,950.00. Following the completion of the transaction, the chief financial officer now directly owns 22,281 shares of the company’s stock, valued at approximately $668,430. The disclosure for this sale can be found here. Insiders sold a total of 14,457,179 shares of company stock valued at $388,231,371 over the last quarter. 0.32% of the stock is owned by corporate insiders.

HP Stock Performance

HPQ opened at $28.31 on Friday. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90. The company has a market capitalization of $27.98 billion, a P/E ratio of 12.20, a P/E/G ratio of 2.35 and a beta of 1.04. The stock has a fifty day moving average of $26.87 and a 200-day moving average of $29.57.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The company had revenue of $13.20 billion during the quarter, compared to the consensus estimate of $13.38 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The company’s revenue was down 9.9% on a year-over-year basis. On average, equities research analysts predict that HP Inc. will post 3.3 earnings per share for the current fiscal year.

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Tuesday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.26. HP’s payout ratio is 45.26%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of HP from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, August 30th. Edward Jones raised shares of HP from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Barclays decreased their target price on shares of HP from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, August 30th. JPMorgan Chase & Co. reduced their price objective on shares of HP from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Wednesday, August 30th. Finally, Citigroup raised shares of HP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $33.00 in a research report on Monday, November 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.60.

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.