ARK Investment Management LLC Sells 8,061 Shares of HP Inc. (NYSE:HPQ)

ARK Investment Management LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,745 shares of the computer maker’s stock after selling 8,061 shares during the period. ARK Investment Management LLC’s holdings in HP were worth $3,287,000 as of its most recent SEC filing.

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

HP Stock Performance

Shares of NYSE:HPQ opened at $33.76 on Thursday. The company has a market capitalization of $31.66 billion, a PE ratio of 12.01, a P/E/G ratio of 2.96 and a beta of 1.05. The company’s fifty day moving average is $33.14 and its 200-day moving average is $34.87. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given 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 3.43%. HP’s dividend payout ratio (DPR) is presently 40.93%.

Analyst Ratings Changes

Several equities analysts have commented on HPQ shares. JPMorgan Chase & Co. cut their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Citigroup reduced their target price on 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 lifted their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein increased their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.68.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 in the last three months. Corporate insiders own 0.41% of the company’s stock.

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.