Nomura Asset Management Co. Ltd. boosted its stake in shares of HP Inc. (NYSE:HPQ – Free Report) by 5.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 379,000 shares of the computer maker’s stock after buying an additional 20,390 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in HP were worth $8,444,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in HP by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 132,094,388 shares of the computer maker’s stock worth $2,943,063,000 after buying an additional 2,435,634 shares during the period. State Street Corp raised its holdings in HP by 5.3% during the 3rd quarter. State Street Corp now owns 52,703,639 shares of the computer maker’s stock worth $1,450,245,000 after buying an additional 2,651,623 shares during the period. Geode Capital Management LLC raised its holdings in HP by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 27,313,924 shares of the computer maker’s stock worth $607,373,000 after buying an additional 274,033 shares during the period. DNB Asset Management AS raised its holdings in HP by 242.2% during the 4th quarter. DNB Asset Management AS now owns 10,594,630 shares of the computer maker’s stock worth $236,048,000 after buying an additional 7,498,202 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of HP by 143.4% during the 3rd quarter. AQR Capital Management LLC now owns 9,039,803 shares of the computer maker’s stock worth $244,527,000 after acquiring an additional 5,325,260 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.
HP Stock Down 4.6%
Shares of HPQ opened at $26.05 on Thursday. HP Inc. has a twelve month low of $17.56 and a twelve month high of $29.65. The company has a 50 day moving average of $21.14 and a 200-day moving average of $21.17. The stock has a market capitalization of $23.82 billion, a P/E ratio of 9.61, a P/E/G ratio of 4.60 and a beta of 1.17.
HP Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.20 annualized dividend and a dividend yield of 4.6%. HP’s dividend payout ratio (DPR) is currently 44.28%.
Wall Street Analysts Forecast Growth
HPQ has been the subject of several research reports. Bank of America raised their price target on shares of HP from $16.00 to $18.00 and gave the stock an “underperform” rating in a research note on Thursday, May 28th. Barclays raised their price target on shares of HP from $16.00 to $19.00 and gave the stock an “underweight” rating in a research note on Thursday, May 28th. The Goldman Sachs Group raised their price target on shares of HP from $16.00 to $19.00 and gave the stock a “sell” rating in a research note on Tuesday. Evercore set a $22.00 price target on shares of HP in a research note on Thursday, February 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of HP from $22.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $23.33.
Check Out Our Latest Stock Analysis on HPQ
About HP
HP Inc is an American multinational information technology company that designs, manufactures and sells personal computing devices, printers and related supplies and services. Its product portfolio spans consumer and commercial notebooks and desktops, workstations, displays and accessories, as well as an extensive line of printing hardware that includes home, office and production printers. HP also provides consumables such as ink and toner, managed print services, device deployment and lifecycle support, and software for device and print management.
Founded from the original Hewlett‑Packard Company, HP Inc became a separately traded public company in 2015 following a corporate split that created Hewlett Packard Enterprise to focus on enterprise hardware and services.
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