KLP Kapitalforvaltning AS Takes Position in HP Inc. (NYSE:HPQ)

KLP Kapitalforvaltning AS bought a new stake in HP Inc. (NYSE:HPQ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 495,316 shares of the computer maker’s stock, valued at approximately $16,285,000. KLP Kapitalforvaltning AS owned 0.05% of HP as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in HPQ. State Street Corp lifted its stake in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC raised its stake in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after buying an additional 2,477,977 shares during the last quarter. KBC Group NV boosted its holdings in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after acquiring an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of HP in the fourth quarter worth $65,260,000. Finally, Bridgewater Associates LP increased its holdings in shares of HP by 2,649.5% during the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after acquiring an additional 1,270,642 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several recent analyst reports. Citigroup cut their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Barclays increased their price target on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Morgan Stanley decreased their price objective on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. StockNews.com raised HP from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th. Finally, Wells Fargo & Company upped their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.14.

HP Stock Performance

Shares of NYSE:HPQ opened at $28.63 on Monday. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80. The firm has a market cap of $26.98 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The business has a 50-day simple moving average of $31.88 and a two-hundred day simple moving average of $34.17.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.37%.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.38% of the company’s stock.

HP Company 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.