Intech Investment Management LLC Cuts Stake in HP Inc. (NYSE:HPQ)

Intech Investment Management LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 47.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,638 shares of the computer maker’s stock after selling 77,872 shares during the period. Intech Investment Management LLC’s holdings in HP were worth $2,794,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Amundi grew its stake in HP by 15.9% in the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock valued at $217,319,000 after purchasing an additional 899,349 shares during the last quarter. Principal Financial Group Inc. grew its stake in HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after purchasing an additional 160,268 shares during the last quarter. Oak Thistle LLC grew its stake in HP by 169.3% in the fourth quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock valued at $1,132,000 after purchasing an additional 21,805 shares during the last quarter. Tidal Investments LLC grew its stake in HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after purchasing an additional 47,230 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in HP by 35.0% in the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HPQ shares. HSBC lowered 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. Morgan Stanley dropped their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Barclays boosted their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, Loop Capital dropped their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.14.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP 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 transaction, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

HP Trading Up 0.2 %

NYSE HPQ opened at $28.76 on Thursday. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The stock 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 stock has a fifty day simple moving average of $32.07 and a 200-day simple moving average of $34.28.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. Research analysts predict that HP Inc. will post 3.56 EPS for the current 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. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

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.