Rhumbline Advisers Has $66.50 Million Stake in HP Inc. (NYSE:HPQ)

Rhumbline Advisers lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,037,874 shares of the computer maker's stock after selling 46,510 shares during the period. Rhumbline Advisers owned approximately 0.22% of HP worth $66,496,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in HP during the third quarter worth $25,000. Synergy Asset Management LLC acquired a new position in shares of HP during the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in shares of HP during the 4th quarter worth $31,000. Itau Unibanco Holding S.A. bought a new stake in shares of HP during the 3rd quarter worth $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HP in the third quarter valued at about $44,000. Institutional investors and hedge funds own 77.53% of the company's stock.

Insider Transactions at HP

In other news, insider Alex Cho sold 10,298 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares of the company's stock, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HPQ shares. TD Cowen boosted their target price on HP from $32.00 to $39.00 and gave the stock a "hold" rating in a research note on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. Barclays raised their target price on shares of HP from $32.00 to $35.00 and gave the company an "equal weight" rating in a research report on Wednesday, November 27th. Wells Fargo & Company upped 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. Finally, Sanford C. Bernstein increased their price target on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.68.

HP Stock Performance

Shares of HPQ stock traded up $0.05 on Thursday, hitting $34.73. The company had a trading volume of 5,006,914 shares, compared to its average volume of 5,793,254. The stock's 50-day moving average is $33.10 and its two-hundred day moving average is $34.81. The firm has a market cap of $32.57 billion, a P/E ratio of 12.36, a P/E/G ratio of 2.92 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same quarter last year, the business earned $0.90 EPS. The company's revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that HP Inc. will post 3.56 EPS for the current 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 dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.33%. HP's payout ratio is currently 41.28%.

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.