Lord Abbett & CO. LLC bought a new stake in HP Inc. (NYSE:HPQ) in the fourth quarter, Holdings Channel reports. The fund bought 1,894,614 shares of the computer maker’s stock, valued at approximately $38,764,000.
Other large investors have also bought and sold shares of the company. Mutual Advisors LLC bought a new stake in shares of HP in the third quarter valued at about $607,000. Oak Associates Ltd. OH lifted its holdings in shares of HP by 4.9% in the fourth quarter. Oak Associates Ltd. OH now owns 470,771 shares of the computer maker’s stock valued at $9,632,000 after purchasing an additional 21,940 shares in the last quarter. CFO4Life Group LLC lifted its holdings in shares of HP by 38.7% in the fourth quarter. CFO4Life Group LLC now owns 17,231 shares of the computer maker’s stock valued at $353,000 after purchasing an additional 4,804 shares in the last quarter. Westpac Banking Corp lifted its holdings in shares of HP by 180.5% in the fourth quarter. Westpac Banking Corp now owns 382,337 shares of the computer maker’s stock valued at $7,823,000 after purchasing an additional 246,033 shares in the last quarter. Finally, Clearstead Advisors LLC bought a new stake in shares of HP in the fourth quarter valued at about $460,000. 78.98% of the stock is owned by hedge funds and other institutional investors.
HPQ has been the topic of several analyst reports. JPMorgan Chase & Co. reiterated a “hold” rating on shares of HP in a report on Thursday, February 28th. BMO Capital Markets reiterated a “hold” rating and set a $22.00 target price on shares of HP in a report on Wednesday, February 27th. Royal Bank of Canada reiterated a “buy” rating and set a $26.00 target price on shares of HP in a report on Wednesday, January 2nd. ValuEngine lowered HP from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Bank of America lowered HP from a “buy” rating to an “underperform” rating and set a $19.00 target price on the stock. in a report on Thursday, February 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $26.38.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.52. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The business had revenue of $14.71 billion during the quarter, compared to analyst estimates of $14.81 billion. During the same period last year, the company earned $0.48 EPS. HP’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that HP Inc. will post 2.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be paid a $0.1602 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $0.64 annualized dividend and a dividend yield of 3.26%. HP’s dividend payout ratio is presently 31.68%.
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.
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