QRG Capital Management Inc. Acquires 1,368 Shares of HP Inc. (NYSE:HPQ)

QRG Capital Management Inc. boosted its stake in shares of HP Inc. (NYSE:HPQ) by 1.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,396 shares of the computer maker’s stock after acquiring an additional 1,368 shares during the quarter. QRG Capital Management Inc.’s holdings in HP were worth $3,309,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC bought a new stake in HP in the fourth quarter worth $26,000. Stonebridge Financial Group LLC purchased a new position in HP during the fourth quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in HP during the third quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of HP in the third quarter valued at $44,000. 77.53% of the stock is owned by institutional investors.

HP Trading Down 7.2 %

Shares of HPQ stock opened at $30.75 on Friday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The stock has a fifty day simple moving average of $33.11 and a two-hundred day simple moving average of $34.84. The stock has a market capitalization of $28.83 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 40.93%.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 262,737 shares of company stock valued at $9,316,641 over the last ninety days. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. TD Cowen dropped their target price on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Company increased their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. HSBC cut HP from a “buy” rating to a “hold” rating and dropped their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $36.59.

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.