Principal Financial Group Inc. Acquires 5,628 Shares of HP Inc. (NYSE:HPQ)

Principal Financial Group Inc. raised its holdings in shares of HP Inc. (NYSE:HPQ) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,499,853 shares of the computer maker’s stock after purchasing an additional 5,628 shares during the quarter. Principal Financial Group Inc. owned 0.17% of HP worth $51,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of HPQ. Simon Quick Advisors LLC purchased a new stake in HP in the fourth quarter worth about $58,000. Patriot Financial Group Insurance Agency LLC grew its position in shares of HP by 115.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,912 shares of the computer maker’s stock worth $55,000 after buying an additional 1,559 shares during the last quarter. Clean Yield Group raised its stake in shares of HP by 255.6% during the 3rd quarter. Clean Yield Group now owns 3,200 shares of the computer maker’s stock worth $61,000 after acquiring an additional 2,300 shares in the last quarter. American National Bank raised its stake in shares of HP by 263.8% during the 4th quarter. American National Bank now owns 3,744 shares of the computer maker’s stock worth $77,000 after acquiring an additional 2,715 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new stake in HP during the third quarter valued at approximately $77,000. 84.07% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Christoph Schell sold 42,804 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $19.99, for a total value of $855,651.96. Following the completion of the sale, the insider now directly owns 144,684 shares in the company, valued at $2,892,233.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.28% of the company’s stock.

HPQ stock traded up $0.09 during trading on Friday, hitting $22.31. 220,132 shares of the company traded hands, compared to its average volume of 9,451,111. The stock’s 50-day simple moving average is $21.40 and its 200 day simple moving average is $19.56. The company has a market cap of $31.82 billion, a PE ratio of 10.83, a P/E/G ratio of 4.79 and a beta of 1.41. HP Inc. has a 1 year low of $15.93 and a 1 year high of $24.09.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. HP had a net margin of 5.36% and a negative return on equity of 241.43%. The business had revenue of $15.40 billion for the quarter, compared to analysts’ expectations of $15.29 billion. During the same quarter last year, the company earned $0.54 EPS. The business’s revenue was up .2% on a year-over-year basis. Research analysts predict that HP Inc. will post 2.29 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.1762 per share. This represents a $0.70 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from HP’s previous quarterly dividend of $0.18. HP’s payout ratio is 31.25%.

Several equities research analysts have weighed in on HPQ shares. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, December 4th. Evercore ISI raised HP from an “in-line” rating to an “outperform” rating and set a $24.00 target price on the stock in a research report on Monday, November 11th. Wells Fargo & Co restated a “hold” rating on shares of HP in a report on Tuesday, November 26th. Finally, Morgan Stanley upped their price objective on shares of HP from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.56.

HP 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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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