HP Inc. $HPQ Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in HP Inc. by 3.9%, acquiring an additional 11,315 shares, bringing its total holdings to 301,003 shares valued at approximately $8.34 million.
• The stock price of HP Inc. is currently at $26.75, reflecting a 0.7% decline, while the company has a market capitalization of $25.13 billion and a P/E ratio of 10.33.
• HP recently announced a quarterly dividend of $0.2894 per share, which translates to a 4.3% dividend yield and will be distributed to investors on October 1st.

Resona Asset Management Co. Ltd. raised its holdings in HP Inc. (NYSE:HPQ - Free Report) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 301,003 shares of the computer maker's stock after purchasing an additional 11,315 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in HP were worth $8,344,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of HPQ. Raymond James Financial Inc. acquired a new position in HP in the fourth quarter valued at $36,492,000. Rockefeller Capital Management L.P. increased its stake in HP by 28.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 97,278 shares of the computer maker's stock valued at $3,172,000 after purchasing an additional 21,646 shares during the period. Mariner LLC increased its stake in HP by 1.9% in the fourth quarter. Mariner LLC now owns 244,612 shares of the computer maker's stock valued at $7,982,000 after purchasing an additional 4,597 shares during the period. CreativeOne Wealth LLC increased its stake in HP by 6.3% in the fourth quarter. CreativeOne Wealth LLC now owns 25,314 shares of the computer maker's stock valued at $826,000 after purchasing an additional 1,498 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in shares of HP by 11.1% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 24,957 shares of the computer maker's stock worth $814,000 after acquiring an additional 2,503 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on HPQ shares. UBS Group reduced their price target on shares of HP from $37.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, May 29th. Evercore ISI reduced their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Morgan Stanley reduced their price target on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, HP currently has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

HPQ traded up $0.07 during trading hours on Monday, reaching $26.81. 3,509,546 shares of the stock traded hands, compared to its average volume of 8,242,127. The firm's fifty day simple moving average is $25.20 and its two-hundred day simple moving average is $27.10. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.16 and a beta of 1.29. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.79.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. During the same quarter in the previous year, the business posted $0.82 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 annualized dividend and a yield of 4.3%. HP's dividend payout ratio (DPR) is currently 44.79%.

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.