New York Life Investment Management LLC Lowers Holdings in HP Inc. (NYSE:HPQ)

New York Life Investment Management LLC trimmed its position in HP Inc. (NYSE:HPQ) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,217 shares of the computer maker’s stock after selling 1,718 shares during the period. New York Life Investment Management LLC’s holdings in HP were worth $4,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. King Luther Capital Management Corp increased its stake in shares of HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after acquiring an additional 303 shares during the last quarter. Arvest Investments Inc. increased its stake in shares of HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of HP by 4.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock valued at $277,000 after acquiring an additional 316 shares during the last quarter. Wedmont Private Capital increased its stake in shares of HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc increased its stake in shares of HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after acquiring an additional 319 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 262,737 shares of company stock valued at $9,316,641. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Down 7.2 %

NYSE HPQ opened at $30.75 on Friday. The stock has a market cap of $28.83 billion, a PE ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The business has a 50 day moving average price of $33.11 and a two-hundred day moving average price of $34.84.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 40.93%.

Analysts Set New Price Targets

A number of research firms have recently commented on HPQ. TD Cowen dropped their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday. Barclays upped their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. JPMorgan Chase & Co. decreased their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.59.

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.