Wellington Management Group LLP Has $3.24 Million Holdings in HP Inc. (NYSE:HPQ)

Wellington Management Group LLP raised its position in HP Inc. (NYSE:HPQ) by 13.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,205 shares of the computer maker’s stock after buying an additional 15,143 shares during the period. Wellington Management Group LLP’s holdings in HP were worth $3,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HPQ. Cantor Fitzgerald Investment Advisor L.P boosted its position in HP by 89.9% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock valued at $31,698,000 after buying an additional 413,491 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of HP by 46.6% during the first quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock worth $11,103,000 after purchasing an additional 97,178 shares in the last quarter. Prudential PLC acquired a new position in shares of HP during the first quarter worth approximately $892,000. Cetera Investment Advisers lifted its position in shares of HP by 6.8% during the first quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock worth $641,000 after purchasing an additional 1,121 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of HP during the first quarter worth approximately $309,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,723 shares of company stock valued at $4,609,787. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HPQ. Evercore ISI upgraded shares of HP from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $33.00 to $40.00 in a research report on Monday, December 11th. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and increased their target price for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. Barclays increased their target price on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. Morgan Stanley upgraded shares of HP from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $35.00 in a report on Tuesday, December 12th. Finally, StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

HP Stock Up 0.4 %

Shares of NYSE:HPQ opened at $30.12 on Thursday. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The company’s fifty day simple moving average is $29.27 and its 200 day simple moving average is $28.54. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 2.51 and a beta of 1.04.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The business had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.75 earnings per share. Research analysts expect that HP Inc. will post 3.41 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th will be given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

About HP

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.