Marshall Wace North America L.P. Increases Holdings in HP Inc. (NYSE:HPQ)

Marshall Wace North America L.P. increased its stake in HP Inc. (NYSE:HPQ) by 35.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,223,850 shares of the computer maker’s stock after purchasing an additional 319,246 shares during the quarter. Marshall Wace North America L.P.’s holdings in HP were worth $25,444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in HPQ. AQR Capital Management LLC grew its position in shares of HP by 44.2% in the first quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock valued at $362,686,000 after purchasing an additional 5,761,703 shares in the last quarter. Great West Life Assurance Co. Can grew its position in HP by 43.3% during the first quarter. Great West Life Assurance Co. Can now owns 4,453,835 shares of the computer maker’s stock worth $86,294,000 after buying an additional 1,345,969 shares in the last quarter. FIL Ltd grew its position in HP by 151.4% during the first quarter. FIL Ltd now owns 1,823,533 shares of the computer maker’s stock worth $35,431,000 after buying an additional 1,098,323 shares in the last quarter. Marshall Wace LLP purchased a new position in HP during the first quarter worth about $20,983,000. Finally, Becker Capital Management Inc. grew its position in HP by 60.2% during the first quarter. Becker Capital Management Inc. now owns 2,478,485 shares of the computer maker’s stock worth $48,157,000 after buying an additional 931,128 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

In other news, insider Dion J. Weisler sold 437,171 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $18.01, for a total value of $7,873,449.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Claire Bramley sold 16,852 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $20.81, for a total value of $350,690.12. Following the completion of the sale, the insider now directly owns 16,852 shares of the company’s stock, valued at approximately $350,690.12. The disclosure for this sale can be found here. Insiders sold a total of 586,987 shares of company stock valued at $11,009,736 over the last quarter. Company insiders own 0.25% of the company’s stock.

Shares of HPQ traded up $0.08 during midday trading on Thursday, reaching $18.79. The stock had a trading volume of 249,130 shares, compared to its average volume of 10,845,518. The company’s 50-day moving average is $19.01 and its 200 day moving average is $19.75. HP Inc. has a 12-month low of $17.10 and a 12-month high of $27.08. The company has a market capitalization of $27.96 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 2.66 and a beta of 1.43.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The firm had revenue of $14.60 billion during the quarter, compared to analysts’ expectations of $14.58 billion. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities analysts forecast that HP Inc. will post 2.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Tuesday, September 10th. HP’s payout ratio is currently 31.68%.

Several equities analysts recently commented on HPQ shares. Loop Capital set a $21.00 target price on HP and gave the stock a “buy” rating in a research report on Friday, August 23rd. Deutsche Bank started coverage on HP in a research report on Wednesday, June 19th. They set a “hold” rating and a $20.00 target price for the company. UBS Group cut HP from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $20.00 in a research report on Monday. JPMorgan Chase & Co. set a $19.00 target price on HP and gave the stock a “hold” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley reduced their target price on HP from $23.00 to $21.00 and set a “weight” rating for the company in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. HP presently has a consensus rating of “Hold” and an average price target of $21.76.

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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