LSV Asset Management Sells 423,638 Shares of HP Inc. (NYSE:HPQ)

LSV Asset Management cut its stake in HP Inc. (NYSE:HPQ - Free Report) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,074,037 shares of the computer maker's stock after selling 423,638 shares during the quarter. HP makes up approximately 0.9% of LSV Asset Management's investment portfolio, making the stock its 20th largest holding. LSV Asset Management owned approximately 1.29% of HP worth $393,976,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of HP in the fourth quarter valued at about $229,320,000. Geode Capital Management LLC boosted its holdings in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the period. KBC Group NV grew its position in shares of HP by 145.1% during the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of HP during the fourth quarter worth approximately $65,260,000. Finally, Raymond James Financial Inc. acquired a new stake in HP during the fourth quarter worth approximately $36,492,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on HPQ. Barclays raised their price target on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. Sanford C. Bernstein raised their target price 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. StockNews.com cut HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Finally, Morgan Stanley dropped their target price on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $36.14.

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Insider Buying and Selling

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 transaction of $613,817.05. Following the completion of the sale, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred 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 currently owned by corporate insiders.

HP Stock Performance

Shares of NYSE HPQ traded up $0.55 during trading on Friday, hitting $23.42. 10,168,027 shares of the company traded hands, compared to its average volume of 7,807,575. The business's fifty day moving average is $29.45 and its 200 day moving average is $33.13. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

HP (NYSE:HPQ - Get Free Report) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion for 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, analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend was Wednesday, March 12th. HP's payout ratio is 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.