Envestnet Asset Management Inc. Has $56.09 Million Stake in HP Inc. (NYSE:HPQ)

Envestnet Asset Management Inc. grew its position in shares of HP Inc. (NYSE:HPQ) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,718,989 shares of the computer maker’s stock after buying an additional 61,492 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of HP worth $56,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in HPQ. Amundi increased its holdings in shares of HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock worth $217,319,000 after purchasing an additional 899,349 shares during the period. Geode Capital Management LLC boosted its stake in shares of HP by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after purchasing an additional 579,525 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Oak Thistle LLC lifted its position in HP by 169.3% during the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after buying an additional 21,805 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after buying an additional 47,230 shares in the last quarter. 77.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HPQ. StockNews.com downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Tuesday. 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. TD Cowen cut their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Loop Capital lowered their price objective on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. Finally, Morgan Stanley lowered their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.14.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $613,817.05. Following the completion of the transaction, 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. Company insiders own 0.38% of the company’s stock.

HP Stock Up 11.2 %

NYSE:HPQ opened at $24.32 on Thursday. The stock has a market cap of $22.93 billion, a P/E ratio of 8.65, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The business’s 50-day moving average price is $29.81 and its two-hundred day moving average price is $33.31.

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

HP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.76%. HP’s payout ratio is 41.37%.

HP Company 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.