Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in HP Inc. (NYSE:HPQ)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of HP Inc. (NYSE:HPQ) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,509,426 shares of the computer maker’s stock after buying an additional 99,983 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in HP were worth $50,022,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. TIAA Trust National Association increased its position in shares of HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after acquiring an additional 302 shares during the period. HBK Sorce Advisory LLC increased its holdings in HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares during the period. Auxano Advisors LLC raised its position in HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after purchasing an additional 310 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of HP by 2.6% in the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after buying an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc grew its position in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after buying an additional 319 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Trading Down 2.6 %

Shares of NYSE HPQ opened at $27.90 on Friday. The stock has a market cap of $26.30 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The stock has a 50 day moving average of $31.48 and a two-hundred day moving average of $33.98.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. As a group, research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently declared 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. This represents a $1.16 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research note on Thursday. HSBC lowered HP from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. Morgan Stanley decreased their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Finally, Sanford C. Bernstein increased their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.14.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company’s stock, valued at $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,191 shares of company stock valued at $1,425,051 in the last ninety days. Insiders own 0.38% of the company’s stock.

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.