Intact Investment Management Inc. Lowers Stake in HP Inc. (NYSE:HPQ)

Intact Investment Management Inc. decreased its holdings in HP Inc. (NYSE:HPQ - Free Report) by 95.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the computer maker's stock after selling 43,000 shares during the period. Intact Investment Management Inc.'s holdings in HP were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. King Luther Capital Management Corp raised its stake in HP by 3.2% in the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker's stock worth $346,000 after buying an additional 303 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker's stock worth $374,000 after purchasing an additional 306 shares in the last quarter. Auxano Advisors LLC increased its position in shares of 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 purchasing an additional 310 shares in the last quarter. Wedmont Private Capital increased its position in shares of 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 purchasing an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its position in shares of HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker's stock worth $400,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

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HP Stock Performance

Shares of NYSE HPQ traded down $0.25 during mid-day trading on Thursday, hitting $28.52. The stock had a trading volume of 5,524,081 shares, compared to its average volume of 7,105,764. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The firm has a market cap of $26.88 billion, a PE ratio of 10.15, a PEG ratio of 2.96 and a beta of 1.09. The company has a 50 day moving average of $32.07 and a two-hundred day moving average of $34.28.

HP (NYSE:HPQ - Get Free Report) last posted 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 net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. Equities research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's payout ratio is 41.37%.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company's stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein upped their price target on HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Hsbc Global Res downgraded HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Barclays upped 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. Wells Fargo & Company upped their price target on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, TD Cowen reduced their price target on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, HP presently has an average rating of "Hold" and a consensus price target of $36.14.

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.