HP Inc. (NYSE:HPQ) Position Cut by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its position in HP Inc. (NYSE:HPQ - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 316,882 shares of the computer maker's stock after selling 45,211 shares during the quarter. Canada Pension Plan Investment Board's holdings in HP were worth $10,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HPQ. Geode Capital Management LLC increased its stake in HP by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after buying an additional 579,525 shares during the period. Amundi raised its holdings in HP by 15.9% during the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker's stock worth $217,319,000 after purchasing an additional 899,349 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of HP by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker's stock valued at $41,391,000 after purchasing an additional 160,268 shares during the period. Oak Thistle LLC boosted its stake in HP by 169.3% during the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker's stock valued at $1,132,000 after buying an additional 21,805 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in HP by 47.5% during the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker's stock worth $5,259,000 after acquiring an additional 47,230 shares during the period. Institutional investors own 77.53% of the company's stock.

HP Price Performance

Shares of NYSE HPQ opened at $23.82 on Tuesday. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The business's 50-day moving average price is $28.38 and its two-hundred day moving average price is $32.62. The company has a market capitalization of $22.46 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. On average, equities analysts anticipate 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 issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date of this dividend was Wednesday, March 12th. HP's dividend payout ratio is 41.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Loop Capital lowered their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective on HP from $40.00 to $29.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. Finally, Barclays boosted their price target on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a report 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $34.00.

Insider Activity at HP

In other news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction on 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. The trade was a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.

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