HP Inc. (NYSE:HPQ) Position Trimmed by Primecap Management Co. CA

Primecap Management Co. CA cut its holdings in HP Inc. (NYSE:HPQ - Free Report) by 1.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,915,405 shares of the computer maker's stock after selling 425,035 shares during the period. Primecap Management Co. CA owned about 2.34% of HP worth $715,100,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Synergy Asset Management LLC acquired a new position in HP in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new position in HP during the 4th quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new position in HP during the 3rd quarter worth $40,000. OFI Invest Asset Management acquired a new stake in HP in the fourth quarter worth $37,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP in the third quarter valued at $44,000. Institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent research reports. Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a "neutral" rating for the company in a research report on Wednesday, November 27th. TD Cowen dropped their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating on the stock in a research note on Friday, February 28th. Hsbc Global Res downgraded HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Barclays increased their price objective on HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently 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 Stephanie Liebman sold 11,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company's stock.

HP Stock Performance

NYSE HPQ traded up $0.12 on Friday, reaching $28.63. The company's stock had a trading volume of 23,907,554 shares, compared to its average volume of 7,179,658. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The stock has a market cap of $26.98 billion, a PE ratio of 10.19, a PEG ratio of 2.96 and a beta of 1.09. The firm's 50 day moving average is $31.97 and its two-hundred day moving average is $34.24.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion for the quarter, compared to analysts' expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's dividend payout ratio is presently 41.37%.

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.