Oregon Public Employees Retirement Fund grew its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 31.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,418 shares of the computer maker’s stock after purchasing an additional 25,917 shares during the period. Oregon Public Employees Retirement Fund’s holdings in HP were worth $2,925,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Laurel Wealth Advisors LLC raised its stake in HP by 2,346.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,052 shares of the computer maker’s stock worth $26,000 after acquiring an additional 1,009 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of HP during the second quarter valued at approximately $27,000. Global Trust Asset Management LLC raised its position in shares of HP by 492.6% during the 2nd quarter. Global Trust Asset Management LLC now owns 1,203 shares of the computer maker’s stock worth $29,000 after purchasing an additional 1,000 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of HP by 72.3% in the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 1,220 shares of the computer maker’s stock worth $30,000 after purchasing an additional 512 shares during the last quarter. Finally, Corsicana & Co. bought a new stake in shares of HP in the 3rd quarter worth approximately $33,000. 77.53% of the stock is owned by institutional investors and hedge funds.
HP Stock Up 0.2%
Shares of HPQ opened at $21.44 on Monday. The firm has a market capitalization of $19.68 billion, a PE ratio of 8.09, a P/E/G ratio of 4.02 and a beta of 1.21. The firm has a 50-day moving average price of $24.02 and a 200 day moving average price of $25.81. HP Inc. has a 52-week low of $20.65 and a 52-week high of $35.28.
HP Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 5.6%. This is a positive change from HP’s previous quarterly dividend of $0.29. The ex-dividend date was Thursday, December 11th. HP’s payout ratio is currently 45.28%.
Analyst Ratings Changes
A number of research analysts recently commented on HPQ shares. UBS Group set a $24.00 price objective on HP in a research note on Wednesday, November 26th. HSBC set a $30.00 price objective on shares of HP and gave the stock a “buy” rating in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of HP in a research note on Wednesday, October 8th. Hsbc Global Res upgraded shares of HP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. Finally, Evercore ISI cut their price target on HP from $29.00 to $25.00 and set an “in-line” rating on the stock in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, HP currently has a consensus rating of “Hold” and an average target price of $25.69.
Check Out Our Latest Report on HP
Insider Buying and Selling at HP
In other news, insider Anneliese Olson sold 18,154 shares of HP stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $27.88, for a total transaction of $506,133.52. Following the transaction, the insider directly owned 169 shares in the company, valued at approximately $4,711.72. This trade represents a 99.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ketan M. Patel sold 33,321 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $23.19, for a total value of $772,713.99. Following the completion of the sale, the insider owned 34,572 shares of the company’s stock, valued at approximately $801,724.68. This trade represents a 49.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 110,123 shares of company stock valued at $2,784,126. 0.38% of the stock is owned by corporate insiders.
About HP
HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.
Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.
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