Aviva PLC Sells 88,987 Shares of HP Inc. (NYSE:HPQ)

Aviva PLC lowered its position in HP Inc. (NYSE:HPQ - Free Report) by 12.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 615,112 shares of the computer maker's stock after selling 88,987 shares during the period. Aviva PLC owned about 0.07% of HP worth $20,071,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of HP during the fourth quarter worth $229,320,000. Geode Capital Management LLC increased its position in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock worth $885,877,000 after acquiring an additional 2,477,977 shares during the period. KBC Group NV lifted its stake in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after purchasing an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of HP in the 4th quarter valued at $65,260,000. Finally, Raymond James Financial Inc. purchased a new position in HP during the fourth quarter worth about $36,492,000. Institutional investors own 77.53% of the company's stock.

HP Trading Up 2.4 %

Shares of HPQ traded up $0.55 during mid-day trading on Friday, hitting $23.42. The company's stock had a trading volume of 10,168,027 shares, compared to its average volume of 7,807,575. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80. The company's 50-day moving average is $29.45 and its 200-day moving average is $33.11. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 2.96 and a beta of 1.09.

Remove Ads

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.2894 per share. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.94%. HP's dividend payout ratio (DPR) is currently 41.37%.

Insider Transactions at HP

In related news, insider Anneliese Olson sold 21,545 shares of the company'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 transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares of the company's stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was 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. Insiders own 0.38% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HPQ. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. 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 report on Friday, February 28th. Wells Fargo & Company boosted their price objective on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. Loop Capital cut their price objective on HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Finally, StockNews.com cut HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $36.14.

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.