Sanctuary Advisors LLC Sells 48,220 Shares of HP Inc. (NYSE:HPQ)

Sanctuary Advisors LLC lowered its holdings in HP Inc. (NYSE:HPQ) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,874 shares of the computer maker’s stock after selling 48,220 shares during the period. Sanctuary Advisors LLC’s holdings in HP were worth $3,669,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HPQ. State Street Corp grew its position in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC grew its position in HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. KBC Group NV grew its position in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in HP in the fourth quarter valued at $65,260,000. Finally, Pacer Advisors Inc. grew its position in HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HPQ. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. JPMorgan Chase & Co. decreased their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price objective on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Citigroup decreased their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.68.

HP Stock Performance

Shares of HPQ stock opened at $34.63 on Friday. The company has a market capitalization of $32.48 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. The company has a 50-day simple moving average of $33.10 and a 200 day simple moving average of $34.83. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.34%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 41.28%.

Insiders Place Their Bets

In other HP news, 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 sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the business’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 transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock worth $9,670,068 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.

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.