Hartford Investment Management Co. Reduces Stock Position in HP Inc. (NYSE:HPQ)

Hartford Investment Management Co. cut its holdings in HP Inc. (NYSE:HPQ) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,628 shares of the computer maker’s stock after selling 1,954 shares during the quarter. Hartford Investment Management Co.’s holdings in HP were worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position 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 worth $41,391,000 after buying an additional 160,268 shares during the last quarter. Oak Thistle LLC lifted its stake in HP by 169.3% in the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after acquiring an additional 21,805 shares during the period. Tidal Investments LLC boosted its holdings in HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares in the last quarter. MML Investors Services LLC increased its position in HP by 35.0% during the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in HP by 4.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after purchasing an additional 18,557 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

HPQ has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Barclays upped their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Citigroup lowered their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.23.

HP Trading Up 0.8 %

NYSE HPQ opened at $33.30 on Friday. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The stock’s fifty day moving average price is $33.28 and its 200-day moving average price is $34.86. The stock has a market cap of $31.23 billion, a P/E ratio of 11.85, a P/E/G ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 EPS. As a group, analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.48%. HP’s payout ratio is currently 40.93%.

Insider Activity at HP

In other HP news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by corporate insiders.

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.