HP Inc. (NYSE:HPQ) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its stake in HP Inc. (NYSE:HPQFree Report) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 188,109 shares of the computer maker’s stock after selling 7,509 shares during the period. Amalgamated Bank’s holdings in HP were worth $6,138,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HPQ. State Street Corp boosted its position in shares of HP by 8.2% in the 3rd 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 during the period. Geode Capital Management LLC raised its holdings in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. Pacer Advisors Inc. lifted its stake in HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after buying an additional 592,391 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of HP by 7.7% in 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 buying an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of HP by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock worth $241,876,000 after acquiring an additional 678,985 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HP

In other news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were 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 approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target 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. Citigroup reduced their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Wells Fargo & Company upped their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. Finally, Barclays raised their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, HP has an average rating of “Hold” and an average price target of $36.68.

View Our Latest Research Report on HPQ

HP Price Performance

HPQ opened at $33.76 on Thursday. The company has a market capitalization of $31.66 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.96 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. The business has a 50-day moving average of $33.14 and a 200-day moving average of $34.87.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The company had revenue of $14.06 billion during 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 was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.90 EPS. On average, equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

About HP

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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