Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Position in HP Inc. (NYSE:HPQ)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of HP Inc. (NYSE:HPQ) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,509,426 shares of the computer maker’s stock after acquiring an additional 99,983 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of HP worth $50,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. TIAA Trust National Association boosted its position in shares of HP by 1.8% in the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after purchasing an additional 302 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of HP by 2.7% in the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after purchasing an additional 306 shares during the last quarter. Auxano Advisors LLC lifted its stake in shares of HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares during the period. Wedmont Private Capital lifted its position in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after acquiring an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its holdings in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after purchasing an additional 319 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,191 shares of company stock valued at $1,425,051. 0.38% of the stock is currently owned by insiders.

HP Trading Down 2.6 %

HPQ stock opened at $27.90 on Friday. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80. The business’s 50-day moving average is $31.48 and its 200 day moving average is $33.98. The stock has a market cap of $26.30 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.15%. HP’s dividend payout ratio is presently 41.37%.

Wall Street Analyst Weigh In

Several research firms have commented on HPQ. Barclays upped 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. Wells Fargo & Company upped their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, Morgan Stanley decreased their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, HP presently has an average rating of “Hold” and a consensus price target of $36.14.

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.