Neuberger Berman Group LLC Raises Position in HP Inc (HPQ)
Neuberger Berman Group LLC increased its stake in HP Inc (NYSE:HPQ) by 14.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 326,808 shares of the computer maker’s stock after purchasing an additional 40,078 shares during the quarter. Neuberger Berman Group LLC’s holdings in HP were worth $6,523,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of HPQ. Boston Partners boosted its stake in shares of HP by 45.9% during the 3rd quarter. Boston Partners now owns 38,111,672 shares of the computer maker’s stock worth $760,709,000 after acquiring an additional 11,994,111 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in shares of HP by 87.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after acquiring an additional 3,358,299 shares during the last quarter. Miller Howard Investments Inc. NY purchased a new position in shares of HP during the 3rd quarter worth $63,140,000. Wells Fargo & Company MN boosted its stake in shares of HP by 26.3% during the 2nd quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after acquiring an additional 3,017,182 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of HP by 168.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,438,608 shares of the computer maker’s stock worth $77,640,000 after acquiring an additional 2,787,506 shares during the last quarter. Institutional investors own 80.89% of the company’s stock.
Shares of HP Inc (HPQ) opened at $21.27 on Thursday. The company has a market cap of $34,780.00, a price-to-earnings ratio of 14.37, a PEG ratio of 2.25 and a beta of 1.80. HP Inc has a 52-week low of $14.40 and a 52-week high of $22.68. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be issued a $0.1393 dividend. This is an increase from HP’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, December 12th. HP’s payout ratio is currently 37.84%.
Several research analysts have recently weighed in on HPQ shares. Jefferies Group reiterated a “hold” rating and set a $20.00 price target (up previously from $19.00) on shares of HP in a research note on Tuesday, September 5th. Guggenheim reiterated a “neutral” rating on shares of HP in a research note on Monday, October 2nd. Deutsche Bank reiterated a “buy” rating and set a $23.00 price target (up previously from $22.00) on shares of HP in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, October 10th. Finally, Loop Capital lifted their price target on shares of HP from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Twelve investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $21.31.
In other HP news, insider Marie Myers sold 10,000 shares of HP stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $21.55, for a total value of $215,500.00. Following the sale, the insider now directly owns 21,966 shares in the company, valued at approximately $473,367.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dion J. Weisler sold 525,719 shares of HP stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $21.22, for a total transaction of $11,155,757.18. Following the completion of the sale, the insider now owns 865,216 shares in the company, valued at $18,359,883.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,086,801 shares of company stock worth $23,116,803. 0.62% of the stock is currently owned by insiders.
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HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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