Alberta Investment Management Corp Boosts Stake in HP Inc. (NYSE:HPQ)

Alberta Investment Management Corp increased its position in shares of HP Inc. (NYSE:HPQ) by 244.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,400 shares of the computer maker’s stock after buying an additional 52,800 shares during the quarter. Alberta Investment Management Corp’s holdings in HP were worth $2,428,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HPQ. Creative Planning grew its position in shares of HP by 5.3% during the third quarter. Creative Planning now owns 225,129 shares of the computer maker’s stock worth $8,075,000 after acquiring an additional 11,240 shares during the last quarter. Blue Trust Inc. boosted its stake in HP by 80.5% during the 3rd quarter. Blue Trust Inc. now owns 10,580 shares of the computer maker’s stock worth $371,000 after purchasing an additional 4,718 shares during the period. Foundations Investment Advisors LLC grew its position in HP by 26.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 9,038 shares of the computer maker’s stock worth $324,000 after purchasing an additional 1,884 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in HP by 3.7% in the third quarter. Sequoia Financial Advisors LLC now owns 23,413 shares of the computer maker’s stock valued at $840,000 after purchasing an additional 832 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of HP by 3.6% in the third quarter. Signaturefd LLC now owns 18,142 shares of the computer maker’s stock valued at $651,000 after buying an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, insider Alex Cho sold 10,298 shares of HP stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 in the last three months. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HPQ. Barclays raised their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Citigroup cut their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.68.

HP Stock Up 0.1 %

Shares of HPQ opened at $34.73 on Friday. The company has a market capitalization of $32.57 billion, a PE ratio of 12.36, a P/E/G ratio of 2.92 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The company has a 50-day simple moving average of $33.10 and a 200-day simple moving average of $34.81.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.33%. HP’s dividend payout ratio is presently 41.28%.

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.