MetLife Investment Advisors LLC reduced its position in HP Inc. (NYSE:HPQ) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,372 shares of the computer maker’s stock after selling 22,811 shares during the period. MetLife Investment Advisors LLC’s holdings in HP were worth $11,864,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. First American Bank purchased a new position in shares of HP in the third quarter worth approximately $4,044,000. Private Advisor Group LLC increased its position in shares of HP by 148.4% in the second quarter. Private Advisor Group LLC now owns 84,522 shares of the computer maker’s stock worth $1,929,000 after acquiring an additional 50,500 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of HP by 1.2% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,177,800 shares of the computer maker’s stock worth $72,104,000 after acquiring an additional 37,300 shares in the last quarter. Atria Investments LLC increased its position in shares of HP by 7.0% in the third quarter. Atria Investments LLC now owns 59,078 shares of the computer maker’s stock worth $1,522,000 after acquiring an additional 3,844 shares in the last quarter. Finally, BDO Wealth Advisors LLC increased its position in shares of HP by 15.8% in the second quarter. BDO Wealth Advisors LLC now owns 45,442 shares of the computer maker’s stock worth $1,031,000 after acquiring an additional 6,208 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.
HPQ stock opened at $22.01 on Friday. The company has a market cap of $34.83 billion, a P/E ratio of 10.90, a P/E/G ratio of 2.13 and a beta of 1.45. HP Inc. has a 52 week low of $19.31 and a 52 week high of $27.08.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Thursday, December 13th will be paid a $0.1602 dividend. The ex-dividend date is Wednesday, December 12th. This is a boost from HP’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 2.91%. HP’s payout ratio is 31.68%.
Several research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “hold” rating and issued a $22.00 target price on shares of HP in a research report on Thursday, October 4th. Susquehanna Bancshares set a $24.00 price target on shares of HP and gave the stock a “hold” rating in a report on Friday, August 24th. Citigroup raised their price target on shares of HP to $30.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Morgan Stanley decreased their price target on shares of HP from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 4th. Finally, Bank of America raised their price target on shares of HP from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $27.25.
In other HP news, insider Dion J. Weisler sold 116,134 shares of HP stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $22.99, for a total value of $2,669,920.66. Following the completion of the sale, the insider now directly owns 1,248,276 shares in the company, valued at $28,697,865.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex Cho sold 3,879 shares of HP stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $23.68, for a total transaction of $91,854.72. The disclosure for this sale can be found here. Insiders sold 946,068 shares of company stock valued at $23,897,254 over the last quarter. Corporate insiders own 0.25% of the company’s stock.
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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.
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