Chevy Chase Trust Holdings LLC lessened its holdings in HP Inc. (NYSE:HPQ - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 508,350 shares of the computer maker's stock after selling 18,312 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of HP worth $16,587,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp raised its position in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC grew its stake in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after buying an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker's stock valued at $482,164,000 after buying an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker's stock worth $307,816,000 after acquiring an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in HP by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker's stock worth $241,876,000 after acquiring an additional 678,985 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.
Insider Activity at HP
In other news, insider Stephanie Liebman sold 11,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was 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. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex Cho sold 10,298 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company's stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock worth $9,670,068 in the last three months. 0.41% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
HPQ has been the subject of a number of analyst reports. Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. HSBC lowered HP from a "buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Barclays upped their target price on HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Sanford C. Bernstein raised their price target 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. Finally, Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.23.
Read Our Latest Stock Analysis on HPQ
HP Price Performance
NYSE:HPQ traded up $0.52 during midday trading on Wednesday, reaching $34.72. 5,624,022 shares of the company traded hands, compared to its average volume of 5,811,097. The firm has a market capitalization of $32.56 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The company has a fifty day moving average price of $33.10 and a 200 day moving average price of $34.81. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.
HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.
HP Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's dividend payout ratio (DPR) is 41.28%.
About HP
(
Free Report)
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.
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