Mutual Advisors LLC Lowers Stake in HP Inc. (NYSE:HPQ)

Mutual Advisors LLC lowered its stake in shares of HP Inc. (NYSE:HPQ) by 6.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 56,046 shares of the computer maker’s stock after selling 3,626 shares during the period. Mutual Advisors LLC’s holdings in HP were worth $1,813,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HPQ. State Street Corp increased its position in shares of HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC increased its position in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of HP by 11.4% during the third 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. Legal & General Group Plc increased its position in shares of HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of HP by 7.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after purchasing an additional 612,675 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HPQ. JPMorgan Chase & Co. reduced their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. TD Cowen upped their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Barclays upped their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. 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’s stock. Based on data from MarketBeat, HP presently has an average rating of “Hold” and an average price target of $36.23.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were 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. This represents a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Performance

Shares of HPQ opened at $32.73 on Friday. The business’s 50-day moving average is $34.46 and its two-hundred day moving average is $35.29. The company has a market capitalization of $30.69 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.83 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.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is a positive change from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio is presently 41.28%.

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.