Mitsubishi UFJ Asset Management Co. Ltd. Purchases 36,709 Shares of HP Inc. (NYSE:HPQ)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 859,307 shares of the computer maker's stock after purchasing an additional 36,709 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.09% of HP worth $25,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. California Public Employees Retirement System boosted its holdings in shares of HP by 3.9% in the third quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker's stock worth $76,229,000 after buying an additional 112,427 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in HP by 23.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker's stock valued at $545,000 after purchasing an additional 4,054 shares during the period. Alaska Permanent Fund Corp lifted its holdings in shares of HP by 1.4% in the fourth quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker's stock valued at $2,386,000 after purchasing an additional 1,091 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of HP by 8.8% in the third quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker's stock worth $1,608,000 after buying an additional 5,064 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of HP by 87.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker's stock valued at $22,960,000 after purchasing an additional 358,231 shares during the period. Institutional investors own 77.53% of the company's stock.

HP Trading Up 0.4 %

Shares of HP stock traded up $0.12 during midday trading on Friday, reaching $31.19. The company had a trading volume of 4,617,521 shares, compared to its average volume of 7,646,077. The stock has a fifty day simple moving average of $29.31 and a 200 day simple moving average of $29.12. The company has a market capitalization of $30.59 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 2.62 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 - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, meeting analysts' consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. Sell-side analysts expect that HP Inc. will post 3.42 earnings per share for the current year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, July 13th. Shareholders of record on Wednesday, June 12th will be paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Wednesday, June 12th. HP's dividend payout ratio is 32.16%.

Insider Activity

In other news, insider Kristen M. Ludgate sold 41,015 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company's stock, valued at approximately $1,642,381.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert R. Bennett sold 67,000 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 60,216 shares of the company's stock, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares of the company's stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock worth $3,479,287 over the last three months. Corporate insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of HP from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 1st. HSBC raised HP from a "hold" rating to a "buy" rating and increased their price objective for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. Bank of America upped their target price on HP from $32.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Barclays boosted their price objective on shares of HP from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.33.

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.