Nemes Rush Group LLC Decreases Stock Position in HP Inc. (NYSE:HPQ)

Nemes Rush Group LLC reduced its stake in HP Inc. (NYSE:HPQ - Free Report) by 78.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,897 shares of the computer maker's stock after selling 14,012 shares during the period. Nemes Rush Group LLC's holdings in HP were worth $127,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp raised its stake in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker's stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its position in shares of HP by 11.1% during 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 buying an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of HP by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker's stock valued at $482,164,000 after acquiring an additional 592,391 shares during the last quarter. Norges Bank bought a new position in shares of HP in the 4th quarter valued at about $229,320,000. Finally, Charles Schwab Investment Management Inc. grew its position in HP by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker's stock worth $222,985,000 after acquiring an additional 90,606 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on HPQ. Morgan Stanley dropped their price objective on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. TD Cowen cut their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Barclays increased their price objective on shares of 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 boosted their target price on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein boosted their price objective on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $36.14.

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Insiders Place Their Bets

In related news, 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 completion of the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

HP Price Performance

Shares of HPQ stock traded down $1.20 during mid-day trading on Friday, hitting $22.58. The stock had a trading volume of 22,862,599 shares, compared to its average volume of 7,609,687. HP Inc. has a 12-month low of $21.96 and a 12-month high of $39.80. The firm's 50-day moving average is $30.78 and its two-hundred day moving average is $33.71. The firm has a market capitalization of $21.29 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting 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 analysts' expectations of $13.35 billion. Analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Wednesday, March 12th. 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.