Snowden Capital Advisors LLC Increases Stake in HP Inc. (NYSE:HPQ)

Snowden Capital Advisors LLC grew its position in HP Inc. (NYSE:HPQ - Free Report) by 79.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 34,899 shares of the computer maker's stock after buying an additional 15,503 shares during the period. Snowden Capital Advisors LLC's holdings in HP were worth $1,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after acquiring an additional 579,525 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker's stock valued at $482,164,000 after purchasing an additional 592,391 shares in the last quarter. Northern Trust Corp boosted its position in shares of HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after buying an additional 1,755,942 shares during the last quarter. Invesco Ltd. increased its holdings in HP by 7.3% in the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker's stock worth $310,351,000 after buying an additional 643,192 shares in the last quarter. Finally, Norges Bank bought a new stake in HP in the 4th quarter worth about $229,320,000. Institutional investors own 77.53% of the company's stock.

Insider Activity

In related news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares of the company's stock, valued at $4,814.81. The trade was 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.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HPQ. StockNews.com raised shares of HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Barclays raised their target price on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley decreased their target price on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Evercore ISI dropped their price target on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Finally, Citigroup upped their price objective on HP from $25.00 to $29.00 and gave the company a "neutral" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, HP presently has a consensus rating of "Hold" and an average target price of $34.17.

HP Stock Performance

NYSE HPQ opened at $29.34 on Monday. The business's fifty day moving average is $26.14 and its 200 day moving average is $31.25. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The company has a market capitalization of $27.65 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.95%. HP's dividend payout ratio (DPR) is presently 41.37%.

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.

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