Allspring Global Investments Holdings LLC Decreases Stock Holdings in HP Inc. (NYSE:HPQ)

Allspring Global Investments Holdings LLC lowered its holdings in HP Inc. (NYSE:HPQ) by 28.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,287 shares of the computer maker’s stock after selling 23,399 shares during the period. Allspring Global Investments Holdings LLC’s holdings in HP were worth $1,754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC raised its position in HP by 4.3% in the third quarter. CWM LLC now owns 27,328 shares of the computer maker’s stock worth $702,000 after acquiring an additional 1,129 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of HP by 31.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 2,980 shares of the computer maker’s stock worth $77,000 after purchasing an additional 705 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of HP by 9.8% in the 3rd quarter. IFP Advisors Inc now owns 11,731 shares of the computer maker’s stock worth $302,000 after purchasing an additional 1,048 shares during the period. SG Americas Securities LLC lifted its stake in HP by 9.6% in the third quarter. SG Americas Securities LLC now owns 43,746 shares of the computer maker’s stock valued at $1,124,000 after purchasing an additional 3,827 shares during the last quarter. Finally, Rheos Capital Works Inc. bought a new position in HP during the third quarter valued at $3,855,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. HSBC raised HP from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Barclays lifted their target price 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. Finally, StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. 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, HP presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

Insiders Place Their Bets

In other news, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock valued at $3,479,287 in the last quarter. Corporate insiders own 0.41% of the company’s stock.

HP Price Performance

NYSE HPQ opened at $27.70 on Tuesday. The company’s 50 day simple moving average is $29.32 and its two-hundred day simple moving average is $28.83. The stock has a market capitalization of $27.17 billion, a PE ratio of 8.10, a P/E/G ratio of 2.33 and a beta of 1.05. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $13.56 billion. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, research analysts anticipate that HP Inc. will post 3.42 EPS for the current year.

HP Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Tuesday, March 12th. HP’s dividend payout ratio is currently 32.16%.

HP 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.