Sumitomo Mitsui Trust Holdings Inc. Has $64.09 Million Stock Position in HP Inc. (NYSE:HPQ)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in HP Inc. (NYSE:HPQ) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,129,877 shares of the computer maker’s stock after selling 2,846 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.21% of HP worth $64,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HPQ. Vanguard Group Inc. increased its position in shares of HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after acquiring an additional 12,883,347 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of HP by 114,461.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after acquiring an additional 11,528,558 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of HP by 4,180.9% in the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after acquiring an additional 9,294,209 shares during the last quarter. Norges Bank acquired a new position in HP during the fourth quarter worth approximately $151,025,000. Finally, Qube Research & Technologies Ltd increased its position in HP by 145.9% during the third quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock worth $156,535,000 after buying an additional 3,613,742 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other HP news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the business’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 transaction, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,723 shares of company stock worth $3,479,287. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent analyst reports. HSBC raised HP from a “hold” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Barclays boosted their price target on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, HP currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

HP Stock Down 0.3 %

Shares of NYSE:HPQ opened at $27.62 on Friday. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90. The stock has a market cap of $27.09 billion, a PE ratio of 8.08, a P/E/G ratio of 2.32 and a beta of 1.05. The business has a 50 day moving average of $29.35 and a 200-day moving average of $28.77.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The business’s revenue was down 4.4% on a year-over-year basis. Equities research analysts expect that HP Inc. will post 3.42 earnings per share for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

About HP

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.