HP Inc. (HPQ) Position Raised by Piedmont Investment Advisors Inc.
Piedmont Investment Advisors Inc. boosted its position in shares of HP Inc. (NYSE:HPQ) by 0.6% in the first quarter, HoldingsChannel reports. The firm owned 374,161 shares of the computer maker’s stock after acquiring an additional 2,223 shares during the period. Piedmont Investment Advisors Inc.’s holdings in HP were worth $7,270,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in HP by 1.2% during the 4th quarter. BlackRock Inc. now owns 107,109,970 shares of the computer maker’s stock valued at $2,191,471,000 after purchasing an additional 1,310,551 shares in the last quarter. Boston Partners grew its holdings in HP by 5.4% during the 4th quarter. Boston Partners now owns 43,404,835 shares of the computer maker’s stock valued at $888,063,000 after purchasing an additional 2,215,865 shares in the last quarter. Deutsche Bank AG grew its holdings in HP by 8.9% during the 4th quarter. Deutsche Bank AG now owns 33,764,593 shares of the computer maker’s stock valued at $690,814,000 after purchasing an additional 2,745,820 shares in the last quarter. Northern Trust Corp grew its holdings in HP by 6.0% during the 4th quarter. Northern Trust Corp now owns 21,931,335 shares of the computer maker’s stock worth $448,715,000 after acquiring an additional 1,238,071 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in HP by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 20,246,617 shares of the computer maker’s stock worth $413,637,000 after acquiring an additional 385,515 shares in the last quarter. 78.48% of the stock is owned by institutional investors and hedge funds.
HP stock opened at $19.20 on Thursday. HP Inc. has a 1 year low of $18.06 and a 1 year high of $27.08. The stock has a market capitalization of $29.81 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 3.22 and a beta of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be given a $0.1602 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.34%. HP’s payout ratio is currently 31.68%.
In other news, CEO Dion J. Weisler sold 36,799 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.00, for a total value of $735,980.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.
HPQ has been the subject of several recent analyst reports. ValuEngine lowered shares of HP from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Zacks Investment Research raised shares of HP from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets decreased their price objective on shares of HP from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, February 28th. Bank of America lowered shares of HP from a “buy” rating to an “underperform” rating and set a $19.00 price objective for the company. in a report on Thursday, February 28th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of HP in a report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.71.
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.
Further Reading: Gross Domestic Product (GDP)
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