HP Inc. (NYSE:HPQ) Position Trimmed by Stonegate Investment Group LLC

Stonegate Investment Group LLC reduced its holdings in HP Inc. (NYSE:HPQ) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,589 shares of the computer maker’s stock after selling 323 shares during the period. Stonegate Investment Group LLC’s holdings in HP were worth $378,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. State Street Corp boosted its stake in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC boosted its position in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the period. KBC Group NV boosted its position in HP by 145.1% during the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the period. Pacer Advisors Inc. increased its position in HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares during the period. Finally, Bridgewater Associates LP lifted its stake in HP by 2,649.5% in the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after buying an additional 1,270,642 shares during the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on HPQ. Sanford C. Bernstein upped their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. TD Cowen raised their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays boosted their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.23.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

HP Trading Down 1.8 %

Shares of HP stock opened at $32.74 on Wednesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The stock has a 50-day moving average price of $34.30 and a 200 day moving average price of $35.25. The company has a market cap of $30.70 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.83 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.90 earnings per share. On average, equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a yield of 3.54%. HP’s dividend payout ratio (DPR) is presently 41.28%.

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.