HP Inc. (NYSE:HPQ) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. cut its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,688 shares of the computer maker's stock after selling 10,643 shares during the quarter. Valley Wealth Managers Inc.'s holdings in HP were worth $3,122,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in HP by 8.2% in 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 during the last quarter. Geode Capital Management LLC boosted its holdings in HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV boosted its holdings in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in HP in the fourth quarter valued at $65,260,000. Finally, Pacer Advisors Inc. boosted its holdings in HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock valued at $508,791,000 after purchasing an additional 1,455,138 shares during the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Down 0.3 %

HP stock traded down $0.09 during mid-day trading on Friday, reaching $34.63. 7,213,953 shares of the company's stock were exchanged, compared to its average volume of 5,835,043. The company has a market cap of $32.48 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.96 and a beta of 1.05. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The company has a fifty day moving average of $33.10 and a 200-day moving average of $34.83.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting analysts' consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the business earned $0.90 EPS. The company's revenue was up 1.7% on a year-over-year basis. Equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.34%. HP's dividend payout ratio is currently 41.28%.

Insider Buying and Selling

In other HP news, insider Alex Cho sold 10,298 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 64,676 shares of the company's stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock worth $9,670,068 in the last ninety days. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. HSBC lowered shares of HP from a "buy" rating to a "hold" rating and lowered their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Wednesday, November 20th. Citigroup decreased their price objective 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. Sanford C. Bernstein upped their price objective on shares of HP from $32.00 to $34.00 and gave the stock a "market perform" rating in a research report on Friday, January 3rd. Finally, Barclays upped their price objective on shares of HP from $32.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Wednesday, November 27th. 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 data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $36.68.

HP 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.