Te Ahumairangi Investment Management Ltd Has $4.75 Million Stake in HP Inc. (NYSE:HPQ)

Te Ahumairangi Investment Management Ltd reduced its stake in HP Inc. (NYSE:HPQ) by 9.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 145,489 shares of the computer maker’s stock after selling 15,929 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in HP were worth $4,747,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC acquired a new position in HP during the 4th quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP in the fourth quarter worth about $31,000. OFI Invest Asset Management acquired a new position in shares of HP during the 4th quarter worth about $37,000. Itau Unibanco Holding S.A. bought a new stake in HP during the 3rd quarter valued at approximately $40,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in HP in the 4th quarter valued at approximately $50,000. Institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $27.80 on Wednesday. The stock’s fifty day simple moving average is $31.28 and its 200 day simple moving average is $33.91. HP Inc. has a one year low of $27.30 and a one year high of $39.80. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of 9.89, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last posted 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 net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. On average, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.16%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on HPQ. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Barclays boosted their price objective on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. 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 research note on Friday, February 28th. Finally, Loop Capital lowered 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 given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, HP presently has a consensus rating of “Hold” and an average price target of $36.14.

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.