First Trust Advisors LP Sells 304,048 Shares of HP Inc. (NYSE:HPQ)

First Trust Advisors LP trimmed its position in HP Inc. (NYSE:HPQ - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,387,615 shares of the computer maker's stock after selling 304,048 shares during the quarter. First Trust Advisors LP owned approximately 0.25% of HP worth $77,908,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in HPQ. Synergy Asset Management LLC acquired a new position in HP in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of HP during the fourth quarter worth $31,000. OFI Invest Asset Management bought a new stake in HP in the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new position in HP in the fourth quarter valued at about $50,000. Finally, Summit Securities Group LLC bought a new position in HP during the fourth quarter worth about $55,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at HP

In related news, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were 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 trade represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of HP 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. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HPQ shares. Barclays upped their price target on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on shares of HP from $40.00 to $29.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Morgan Stanley decreased 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. Finally, StockNews.com lowered HP from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $34.00.

HP Trading Down 0.0 %

Shares of HPQ stock opened at $23.82 on Tuesday. The firm's fifty day moving average price is $28.38 and its two-hundred day moving average price is $32.62. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The firm has a market capitalization of $22.46 billion, a P/E ratio of 8.48, a PEG ratio of 2.96 and a beta of 1.09.

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

HP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date was Wednesday, March 12th. HP's dividend payout ratio is currently 41.37%.

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.

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