HP Inc. (NYSE:HPQ) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,998 shares of the computer maker's stock after selling 34,122 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in HP were worth $3,818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HPQ. TIAA Trust National Association increased its stake in HP by 1.8% during the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker's stock worth $548,000 after acquiring an additional 302 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in HP by 2.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock valued at $374,000 after buying an additional 306 shares during the last quarter. Auxano Advisors LLC boosted its stake in HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker's stock worth $282,000 after buying an additional 310 shares during the period. Wedmont Private Capital boosted its stake in HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker's stock worth $420,000 after buying an additional 316 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in shares of HP by 2.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock valued at $400,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HPQ. StockNews.com lowered HP from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company upped their target price on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research note on Thursday, February 20th. TD Cowen decreased their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Finally, Citigroup cut their price target on HP from $36.50 to $25.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, HP currently has a consensus rating of "Hold" and an average target price of $34.00.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

HP Stock Down 0.0 %

NYSE HPQ opened at $23.82 on Tuesday. The firm has a market cap of $22.46 billion, a P/E ratio of 8.48, a P/E/G 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 business's 50-day moving average price is $28.38 and its 200 day moving average price is $32.62.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results 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 negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. As a group, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

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

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.

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