Dodge & Cox bought a new stake in shares of HP Inc (NYSE:HPQ) during the fourth quarter, Holdings Channel reports. The firm bought 139,701,057 shares of the computer maker’s stock, valued at approximately $2,073,164,000. HP comprises 1.8% of Dodge & Cox’s portfolio, making the stock its 20th largest position. Dodge & Cox owned about 0.08% of HP at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in HPQ. Advisory Services Network LLC raised its stake in HP by 9.5% in the third quarter. Advisory Services Network LLC now owns 9,316 shares of the computer maker’s stock valued at $145,000 after buying an additional 807 shares during the last quarter. Fisher Asset Management LLC raised its stake in HP by 9.8% in the third quarter. Fisher Asset Management LLC now owns 15,844 shares of the computer maker’s stock valued at $246,000 after buying an additional 1,409 shares during the last quarter. Raymond James Trust N.A. raised its stake in HP by 3.4% in the third quarter. Raymond James Trust N.A. now owns 15,483 shares of the computer maker’s stock valued at $240,000 after buying an additional 513 shares during the last quarter. British Columbia Investment Management Corp raised its stake in HP by 12.1% in the third quarter. British Columbia Investment Management Corp now owns 967,610 shares of the computer maker’s stock valued at $15,027,000 after buying an additional 104,694 shares during the last quarter. Finally, Creative Planning raised its stake in HP by 3.0% in the third quarter. Creative Planning now owns 89,323 shares of the computer maker’s stock valued at $1,387,000 after buying an additional 2,615 shares during the last quarter. Hedge funds and other institutional investors own 78.94% of the company’s stock.
Shares of HP Inc (NYSE:HPQ) traded up 0.541% during midday trading on Monday, reaching $17.655. 3,141,586 shares of the company’s stock were exchanged. The company has a market capitalization of $29.90 billion, a PE ratio of 12.043 and a beta of 1.52. HP Inc has a 1-year low of $11.31 and a 1-year high of $17.81. The firm has a 50-day moving average of $16.48 and a 200-day moving average of $15.38.
HP (NYSE:HPQ) last released its quarterly earnings data on Wednesday, February 22nd. The computer maker reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. HP had a negative return on equity of 63.67% and a net margin of 5.17%. The firm earned $12.68 billion during the quarter, compared to analyst estimates of $11.82 billion. During the same period in the prior year, the company posted $0.36 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts expect that HP Inc will post $1.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be paid a dividend of $0.1327 per share. The ex-dividend date is Monday, March 6th. This represents a $0.53 annualized dividend and a yield of 3.02%. HP’s dividend payout ratio is currently 37.32%.
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HPQ has been the subject of several recent research reports. Vetr lowered shares of HP from a “strong-buy” rating to a “buy” rating and set a $17.76 target price for the company. in a research note on Monday, November 21st. Jefferies Group LLC lowered shares of HP from a “buy” rating to a “hold” rating in a research note on Wednesday, November 23rd. Barclays PLC reiterated a “hold” rating and set a $15.00 target price on shares of HP in a research note on Wednesday, November 23rd. BMO Capital Markets boosted their price target on shares of HP from $13.00 to $16.00 and gave the company a “market perform” rating in a report on Wednesday, November 23rd. Finally, Wells Fargo & Co reissued an “outperform” rating and set a $14.50 price target on shares of HP in a report on Wednesday, November 23rd. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.83.
In other HP news, insider Tracy S. Keogh sold 113,582 shares of the stock in a transaction on Friday, February 24th. The stock was sold at an average price of $17.43, for a total transaction of $1,979,734.26. Following the completion of the transaction, the insider now directly owns 96,926 shares in the company, valued at $1,689,420.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.
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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