Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,831 Shares of HP Inc. (NYSE:HPQ)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of HP Inc. (NYSE:HPQ) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 108,723 shares of the computer maker’s stock after buying an additional 1,831 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in HP were worth $3,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HPQ. Ashton Thomas Securities LLC bought a new stake in HP during the third quarter valued at about $25,000. Synergy Asset Management LLC acquired a new position in shares of HP during the 4th quarter worth about $26,000. Wolff Wiese Magana LLC boosted its stake in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC acquired a new stake in HP in the 3rd quarter valued at approximately $37,000. Finally, Itau Unibanco Holding S.A. bought a new position in HP in the 3rd quarter worth approximately $40,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Trading Down 1.0 %

Shares of HPQ opened at $32.26 on Monday. The stock has a market cap of $30.25 billion, a PE ratio of 11.48, a PEG ratio of 2.78 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock has a 50 day simple moving average of $33.49 and a 200-day simple moving average of $34.94.

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

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.59%. HP’s dividend payout ratio (DPR) is presently 40.93%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HPQ shares. TD Cowen raised their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Barclays raised their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and an average target price of $36.23.

Insiders Place Their Bets

In other news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated 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 transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by insiders.

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.