HP Inc. (NYSE:HPQ) Stake Cut by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in shares of HP Inc. (NYSE:HPQ) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm 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 filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in HP during the third quarter worth $25,000. Synergy Asset Management LLC bought a new position in HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in HP during the fourth quarter worth $31,000. Itau Unibanco Holding S.A. bought a new stake in HP in the third quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP in the third quarter valued at $44,000. 77.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HPQ. Barclays raised their target price on 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 research note on Friday, November 29th. HSBC cut HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Wells Fargo & Company raised their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, TD Cowen cut their target price on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.59.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. This represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,737 shares of company stock valued at $9,316,641 over the last three months. Company insiders own 0.41% of the company’s stock.

HP Stock Down 7.2 %

NYSE:HPQ opened at $30.75 on Friday. The business’s 50-day moving average price is $33.11 and its 200 day moving average price is $34.84. The firm has a market cap of $28.83 billion, a P/E ratio of 10.94, a PEG ratio of 2.96 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79.

HP (NYSE:HPQ) last released its 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. The firm had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

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

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.