abrdn plc Raises Stock Holdings in HP Inc. (NYSE:HPQ)

abrdn plc boosted its position in shares of HP Inc. (NYSE:HPQ) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,172,242 shares of the computer maker’s stock after purchasing an additional 212,458 shares during the quarter. abrdn plc owned about 0.12% of HP worth $35,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton increased its holdings in HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in HP during the 4th quarter worth $28,000. Janiczek Wealth Management LLC increased its holdings in HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in HP during the 4th quarter worth $34,000. Finally, Salem Investment Counselors Inc. increased its holdings in HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on HPQ shares. Barclays increased their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. HSBC raised HP from a “hold” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Finally, StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Insiders Place Their Bets

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other HP news, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is owned by company insiders.

HP Price Performance

HP stock opened at $27.70 on Tuesday. The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 2.33 and a beta of 1.05. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The business has a fifty day moving average price of $29.32 and a 200-day moving average price of $28.83.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The firm’s revenue was down 4.4% compared to the same quarter last year. On average, equities research analysts anticipate that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were given a dividend of $0.2756 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a yield of 3.98%. HP’s dividend payout ratio is currently 32.16%.

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.