AGF Management Ltd. Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

AGF Management Ltd. reduced its position in shares of HP Inc. (NYSE:HPQ) by 24.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,114 shares of the computer maker’s stock after selling 21,144 shares during the period. AGF Management Ltd.’s holdings in HP were worth $2,157,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HPQ. King Luther Capital Management Corp grew its position in shares of HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after purchasing an additional 303 shares during the last quarter. Auxano Advisors LLC grew its position in shares of HP by 3.7% in the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock valued at $282,000 after purchasing an additional 310 shares during the last quarter. Wedmont Private Capital boosted its position in HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after acquiring an additional 316 shares during the last quarter. Pinnacle Financial Partners Inc boosted its position in HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after acquiring an additional 319 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in HP by 1.6% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 20,384 shares of the computer maker’s stock worth $665,000 after acquiring an additional 329 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were 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 of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. TD Cowen cut their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. StockNews.com downgraded shares of HP from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued 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 $36.14.

HP Trading Up 1.8 %

HPQ stock opened at $28.43 on Friday. The firm’s 50-day moving average is $32.36 and its two-hundred day moving average is $34.42. HP Inc. has a 52 week low of $27.43 and a 52 week high of $39.80. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 10.12, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

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.