Victory Capital Management Inc. Decreases Stake in HP Inc. (NYSE:HPQ)

Victory Capital Management Inc. cut its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 48.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 981,870 shares of the computer maker's stock after selling 927,351 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of HP worth $32,038,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HPQ. Ashton Thomas Securities LLC acquired a new stake in HP in the third quarter valued at approximately $25,000. Synergy Asset Management LLC acquired a new position in shares of HP during the 4th quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new position in HP in the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new stake in HP in the 3rd quarter worth about $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in HP during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on HPQ shares. StockNews.com lowered HP from a "buy" rating to a "hold" rating in a research note on Monday. TD Cowen lowered their target price 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. Morgan Stanley dropped their target price on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, February 28th. Barclays raised their price target on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Finally, Hsbc Global Res cut shares of HP from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, HP currently has a consensus rating of "Hold" and a consensus price target of $36.14.

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Insider Activity at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kristen M. Ludgate sold 74,356 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company's stock, valued at $1,933,898.67. This represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

HP Stock Performance

Shares of NYSE HPQ traded down $0.14 during mid-day trading on Wednesday, reaching $28.19. 688,748 shares of the company's stock were exchanged, compared to its average volume of 7,176,367. The firm has a market capitalization of $26.58 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The company's 50-day moving average is $32.63 and its 200-day moving average is $34.56.

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

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.11%. HP's 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.