6,223,454 Shares in HP Inc. (NYSE:HPQ) Acquired by Norges Bank

Norges Bank purchased a new position in HP Inc. (NYSE:HPQ) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,223,454 shares of the computer maker’s stock, valued at approximately $187,264,000. Norges Bank owned 0.63% of HP at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HPQ. Vanguard Group Inc. increased its holdings in HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after buying an additional 12,883,347 shares during the period. Pacer Advisors Inc. boosted its position in HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after purchasing an additional 9,294,209 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in HP by 145.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock worth $156,535,000 after purchasing an additional 3,613,742 shares in the last quarter. Hsbc Holdings PLC boosted its position in HP by 104.6% in the 3rd quarter. Hsbc Holdings PLC now owns 4,352,558 shares of the computer maker’s stock worth $112,014,000 after purchasing an additional 2,225,530 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in HP in the 3rd quarter worth approximately $54,302,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ opened at $33.02 on Thursday. The stock has a 50-day simple moving average of $29.43 and a 200-day simple moving average of $29.29. The stock has a market capitalization of $32.38 billion, a PE ratio of 9.65, a PEG ratio of 2.45 and a beta of 1.06. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.75 EPS. Analysts predict that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 13th. Stockholders of record on Wednesday, June 12th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, June 12th. HP’s payout ratio is currently 32.16%.

Analyst Upgrades and Downgrades

Several research firms have commented on HPQ. Bank of America upped their price objective on HP from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. HSBC upgraded 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. Barclays upgraded HP from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $24.00 to $30.00 in a research report on Tuesday. Finally, StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Insider Activity

In other news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other HP news, insider Stephanie Liebman sold 8,708 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 116,723 shares of company stock valued at $3,479,287. Company 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.