HP Inc. (NYSE:HPQ) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 880,336 shares of the computer maker's stock after selling 17,972 shares during the quarter. Bank of Montreal Can owned about 0.09% of HP worth $28,725,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HPQ. Norges Bank acquired a new stake in shares of HP during the fourth quarter worth $229,320,000. Geode Capital Management LLC raised its position in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock worth $885,877,000 after buying an additional 2,477,977 shares during the last quarter. KBC Group NV lifted its stake in shares of HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after acquiring an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of HP in the fourth quarter valued at about $65,260,000. Finally, Raymond James Financial Inc. acquired a new position in shares of HP during the fourth quarter worth about $36,492,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of analyst reports. Morgan Stanley cut their target price on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Wells Fargo & Company increased their price objective on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Sanford C. Bernstein boosted their target price on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Citigroup lowered their price target on shares of HP from $36.50 to $25.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, 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 note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $35.09.

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HP Price Performance

HPQ traded down $0.13 during midday trading on Wednesday, reaching $23.61. 1,683,387 shares of the company's stock were exchanged, compared to its average volume of 8,198,780. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.79. The stock has a market capitalization of $22.26 billion, a PE ratio of 8.40, a P/E/G ratio of 2.96 and a beta of 1.09. The business's 50-day moving average price is $29.11 and its 200 day moving average price is $32.96.

HP (NYSE:HPQ - Get Free Report) last released its 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 company 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, analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Wednesday, March 12th. HP's dividend payout ratio is currently 41.37%.

Insider Activity at HP

In related news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction dated 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.

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.