HP Inc. (NYSE:HPQ) Holdings Boosted by LSV Asset Management

LSV Asset Management boosted its position in shares of HP Inc. (NYSE:HPQ) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,674,646 shares of the computer maker’s stock after purchasing an additional 403,355 shares during the period. HP accounts for 0.8% of LSV Asset Management’s investment portfolio, making the stock its 29th biggest holding. LSV Asset Management owned 1.29% of HP worth $383,028,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. Vanguard Group Inc. grew its position in HP by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after purchasing an additional 12,883,347 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after purchasing an additional 9,294,209 shares during the last quarter. Norges Bank acquired a new stake in shares of HP in the 4th quarter valued at $187,264,000. Schroder Investment Management Group lifted its position in HP by 1,472.4% during the 4th quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock worth $68,126,000 after acquiring an additional 2,120,096 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in HP by 69.6% during the 4th quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock worth $151,382,000 after acquiring an additional 2,064,869 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HPQ has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Barclays upped their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their target price on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. UBS Group upped their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company increased their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ traded up $0.63 during trading on Friday, reaching $36.73. The stock had a trading volume of 6,541,508 shares, compared to its average volume of 8,116,811. The firm’s fifty day moving average is $34.02 and its 200 day moving average is $30.91. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market cap of $35.94 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 2.30 and a beta of 1.09.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. During the same period in the prior year, the firm posted $0.80 EPS. The company’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts forecast that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

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.