HP Inc. (NYSE:HPQ) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP boosted its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 259,257 shares of the computer maker's stock after acquiring an additional 28,910 shares during the period. Wellington Management Group LLP's holdings in HP were worth $8,460,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HPQ. Norges Bank acquired a new position in HP during the fourth quarter worth $229,320,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in HP during the fourth quarter worth $65,260,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in HP during the fourth quarter worth $63,612,000. Northern Trust Corp raised its position in HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock worth $419,126,000 after acquiring an additional 1,755,942 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in HP during the fourth quarter worth $55,915,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

HP Trading Up 1.9%

NYSE:HPQ traded up $0.48 during mid-day trading on Friday, hitting $25.18. The stock had a trading volume of 12,430,034 shares, compared to its average volume of 7,853,122. The stock has a 50-day simple moving average of $25.64 and a two-hundred day simple moving average of $30.29. The company has a market capitalization of $23.65 billion, a PE ratio of 8.96, a PEG ratio of 2.96 and a beta of 1.30. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.60%. HP's dividend payout ratio (DPR) is presently 44.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HPQ shares. JPMorgan Chase & Co. dropped their target price on shares of HP from $30.00 to $27.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Citigroup dropped their price objective on shares of HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Loop Capital lowered their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. Finally, Barclays set a $28.00 target price on shares of HP and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $29.54.

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.