HP Inc. (NYSE:HPQ) Stock Position Cut by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 30.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,857 shares of the computer maker's stock after selling 43,218 shares during the quarter. Guggenheim Capital LLC's holdings in HP were worth $3,193,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its stake in HP by 8.7% in the third quarter. Barclays PLC now owns 2,307,573 shares of the computer maker's stock valued at $82,772,000 after buying an additional 183,741 shares during the period. Te Ahumairangi Investment Management Ltd lifted its stake in HP by 3.4% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 161,418 shares of the computer maker's stock valued at $5,757,000 after buying an additional 5,360 shares during the period. Pine Valley Investments Ltd Liability Co acquired a new position in HP in the third quarter valued at approximately $237,000. World Investment Advisors LLC acquired a new position in HP in the third quarter valued at approximately $324,000. Finally, Arvest Bank Trust Division acquired a new position in HP in the third quarter valued at approximately $11,745,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of HP from $40.00 to $29.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Loop Capital cut their price objective on shares of 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 downgraded shares of HP from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. One research 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $34.00.

HP Stock Performance

Shares of HPQ traded up $0.47 during mid-day trading on Thursday, hitting $25.10. 1,963,326 shares of the stock were exchanged, compared to its average volume of 7,850,187. The company has a market cap of $23.66 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80. The firm has a 50-day moving average of $28.01 and a two-hundred day moving average of $32.50.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during 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%. On average, sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date was Wednesday, March 12th. HP's dividend payout ratio is currently 41.37%.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business'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 value of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

HP Company 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.