Corebridge Financial Inc. Sells 14,878 Shares of HP Inc. (NYSE:HPQ)

Corebridge Financial Inc. cut its position in HP Inc. (NYSE:HPQ - Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 441,708 shares of the computer maker's stock after selling 14,878 shares during the quarter. Corebridge Financial Inc.'s holdings in HP were worth $14,413,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HPQ. Synergy Asset Management LLC acquired a new stake in shares of HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP in the fourth quarter worth $31,000. OFI Invest Asset Management bought a new position in HP during the fourth quarter worth $37,000. Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP in the 3rd quarter valued at $44,000. Institutional investors own 77.53% of the company's stock.

HP Stock Down 2.6 %

Shares of HPQ stock traded down $0.75 during mid-day trading on Friday, reaching $27.90. 5,450,158 shares of the stock traded hands, compared to its average volume of 7,461,363. The stock's fifty day simple moving average is $31.48 and its two-hundred day simple moving average is $33.98. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80. The company has a market cap of $26.30 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts' consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. On average, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

Remove Ads

HP Announces Dividend

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 given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.15%. HP's dividend payout ratio (DPR) is presently 41.37%.

Insider Activity at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,191 shares of company stock valued at $1,425,051. Company insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

HPQ has been the topic of several recent research reports. Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley decreased 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. Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Barclays increased their target price on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. One research 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. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $36.14.

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.