Wells Fargo & Company MN Trims Holdings in HP Inc. (NYSE:HPQ)

Wells Fargo & Company MN lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,029,317 shares of the computer maker's stock after selling 164,340 shares during the quarter. Wells Fargo & Company MN owned 0.22% of HP worth $66,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HPQ. Norges Bank purchased a new position in shares of HP in the fourth quarter worth approximately $229,320,000. Geode Capital Management LLC grew its position in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after acquiring an additional 2,477,977 shares during the period. KBC Group NV increased its stake in shares of HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in HP during the fourth quarter valued at $65,260,000. Finally, Raymond James Financial Inc. bought a new stake in HP during the fourth quarter valued at about $36,492,000. Institutional investors own 77.53% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HPQ. Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Morgan Stanley dropped their price objective on shares of HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, February 28th. Sanford C. Bernstein upped their target price on shares of 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 lifted their price target on HP from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, Loop Capital dropped their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $36.14.

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HP Trading Up 3.4 %

NYSE HPQ traded up $0.80 on Monday, hitting $24.24. 2,399,844 shares of the company's stock traded hands, compared to its average volume of 7,786,882. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80. The firm has a market capitalization of $22.85 billion, a PE ratio of 8.63, a P/E/G ratio of 2.96 and a beta of 1.09. The firm's 50-day moving average price is $29.45 and its two-hundred day moving average price is $33.11.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts' consensus estimates of $0.74. The business had revenue of $13.50 billion for 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%. On average, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.78%. HP's dividend payout ratio is presently 41.37%.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

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.