Intech Investment Management LLC Sells 77,872 Shares of HP Inc. (NYSE:HPQ)

Intech Investment Management LLC trimmed its holdings in HP Inc. (NYSE:HPQ) by 47.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,638 shares of the computer maker’s stock after selling 77,872 shares during the quarter. Intech Investment Management LLC’s holdings in HP were worth $2,794,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HPQ. State Street Corp raised its holdings in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC grew its position in shares of HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV grew its position 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 buying an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in HP in the 4th quarter worth about $65,260,000. Finally, Pacer Advisors Inc. boosted its stake in HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HPQ has been the topic of several research analyst reports. HSBC cut shares of HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Morgan Stanley reduced 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. StockNews.com raised shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday. 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 report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.14.

HP Stock Up 0.2 %

Shares of HPQ opened at $28.76 on Thursday. The company has a market cap of $27.11 billion, a PE ratio of 10.23, a P/E/G ratio of 2.96 and a beta of 1.09. The business has a fifty day moving average of $32.07 and a 200 day moving average of $34.28. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. As a group, 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 announced 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. HP’s dividend payout ratio (DPR) is 41.37%.

Insider Activity

In other news, 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 owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.38% 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.