HP Inc. (NYSE:HPQ) Shares Sold by LSV Asset Management

LSV Asset Management reduced its holdings in shares of HP Inc. (NYSE:HPQ) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,074,037 shares of the computer maker’s stock after selling 423,638 shares during the quarter. HP accounts for 0.9% of LSV Asset Management’s portfolio, making the stock its 20th largest position. LSV Asset Management owned about 1.29% of HP worth $393,976,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Synergy Asset Management LLC purchased a new position in shares of HP in the fourth quarter valued at $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP in the 4th quarter worth about $31,000. OFI Invest Asset Management acquired a new stake in shares of HP in the 4th quarter worth about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of HP in the 4th quarter worth about $50,000. Finally, Summit Securities Group LLC bought a new position in HP in the 4th quarter valued at about $55,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TD Cowen reduced their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Loop Capital reduced their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Barclays raised their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Morgan Stanley lowered their price objective on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, HP has an average rating of “Hold” and an average target price of $36.14.

HP Stock Performance

Shares of NYSE HPQ opened at $24.32 on Thursday. The stock has a market cap of $22.93 billion, a PE ratio of 8.65, a PEG ratio of 2.96 and a beta of 1.09. The business has a fifty day moving average of $29.81 and a two-hundred day moving average of $33.31. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.2894 per share. 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 currently 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.