HP Inc. (NYSE:HPQ) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of HP Inc. (NYSE:HPQFree Report) by 11.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,807 shares of the computer maker’s stock after purchasing an additional 28,252 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in HP were worth $7,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HPQ. The Manufacturers Life Insurance Company grew its stake in HP by 21.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 825,044 shares of the computer maker’s stock worth $21,204,000 after purchasing an additional 144,997 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in HP by 2.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 19,634 shares of the computer maker’s stock worth $505,000 after buying an additional 442 shares during the last quarter. Banque Pictet & Cie SA lifted its holdings in HP by 6.5% during the 3rd quarter. Banque Pictet & Cie SA now owns 196,124 shares of the computer maker’s stock worth $5,040,000 after buying an additional 11,961 shares during the last quarter. American Century Companies Inc. lifted its holdings in HP by 1.0% during the 3rd quarter. American Century Companies Inc. now owns 4,627,893 shares of the computer maker’s stock worth $118,937,000 after buying an additional 46,884 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in HP by 13.6% during the 3rd quarter. Wellington Management Group LLP now owns 126,205 shares of the computer maker’s stock worth $3,243,000 after buying an additional 15,143 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Bank of America lifted their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. UBS Group lifted their price target on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Citigroup boosted their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Wells Fargo & Company upped their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Check Out Our Latest Report on HP

HP Trading Up 0.3 %

NYSE HPQ opened at $35.42 on Wednesday. The stock has a market capitalization of $34.66 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.20 and a beta of 1.09. The business’s 50 day moving average is $33.69 and its two-hundred day moving average is $30.84. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company’s revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.80 EPS. Equities analysts forecast that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is currently 37.16%.

Insider Buying and Selling

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

About HP

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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