National Pension Service Decreases Stock Position in HP Inc. (NYSE:HPQ)

National Pension Service lessened its stake in shares of HP Inc. (NYSE:HPQ) by 2.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,109,367 shares of the computer maker’s stock after selling 53,405 shares during the period. National Pension Service owned approximately 0.22% of HP worth $68,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. abrdn plc increased its stake in HP by 1.7% in the third quarter. abrdn plc now owns 1,412,225 shares of the computer maker’s stock worth $50,381,000 after purchasing an additional 23,319 shares during the period. Diversify Advisory Services LLC purchased a new stake in HP in the third quarter worth $228,000. First Trust Direct Indexing L.P. increased its stake in HP by 3.2% in the third quarter. First Trust Direct Indexing L.P. now owns 38,208 shares of the computer maker’s stock worth $1,371,000 after purchasing an additional 1,175 shares during the period. Oak Harvest Investment Services increased its stake in HP by 1.0% in the third quarter. Oak Harvest Investment Services now owns 157,106 shares of the computer maker’s stock worth $5,635,000 after purchasing an additional 1,516 shares during the period. Finally, Nikulski Financial Inc. increased its stake in HP by 7.4% in the third quarter. Nikulski Financial Inc. now owns 6,420 shares of the computer maker’s stock worth $230,000 after purchasing an additional 444 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $33.15 on Friday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The stock’s 50-day moving average is $33.15 and its 200 day moving average is $34.86. The company has a market cap of $31.08 billion, a P/E ratio of 11.80, a PEG ratio of 2.96 and a beta of 1.05.

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

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 40.93%.

Analyst Ratings Changes

A number of analysts have weighed in on HPQ shares. HSBC lowered HP from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Barclays raised their price target on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.68.

Insider Activity at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,737 shares of company stock valued at $9,316,641 over the last quarter. 0.41% of the stock is owned by corporate insiders.

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.