Pictet Asset Management Holding SA lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 778,182 shares of the computer maker's stock after selling 285,616 shares during the quarter. Pictet Asset Management Holding SA owned 0.08% of HP worth $25,392,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in shares of HP in the fourth quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in HP during the 4th quarter worth about $31,000. OFI Invest Asset Management purchased a new position in shares of HP during the 4th quarter valued at about $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP in the 3rd quarter valued at about $40,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of HP in the fourth quarter worth about $50,000. 77.53% of the stock is owned by institutional investors and hedge funds.
HP Price Performance
HPQ stock traded down $1.38 during trading on Friday, hitting $22.40. The stock had a trading volume of 14,529,650 shares, compared to its average volume of 7,559,925. The company's 50-day moving average price is $30.98 and its two-hundred day moving average price is $33.79. HP Inc. has a twelve month low of $21.97 and a twelve month high of $39.80. The stock has a market capitalization of $21.12 billion, a P/E ratio of 7.97, a PEG ratio of 2.96 and a beta of 1.09.
HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. As a group, sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.
HP Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Wednesday, March 12th. HP's dividend payout ratio (DPR) is 41.37%.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on HPQ shares. Sanford C. Bernstein lifted their price target on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Thursday, February 20th. Barclays lifted their price objective 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. Morgan Stanley lowered their target price on shares of HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, February 28th. Finally, TD Cowen cut their price target on HP from $39.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, HP currently has an average rating of "Hold" and a consensus price target of $36.14.
View Our Latest Stock Report on HP
Insider Transactions at HP
In other HP news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated 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 owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was 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. Insiders own 0.38% of the company's stock.
About HP
(
Free Report)
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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