Gulf International Bank UK Ltd Has $2.71 Million Position in HP Inc. (NYSE:HPQ)

Gulf International Bank UK Ltd reduced its stake in shares of HP Inc. (NYSE:HPQ) by 6.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 83,003 shares of the computer maker’s stock after selling 5,431 shares during the quarter. Gulf International Bank UK Ltd’s holdings in HP were worth $2,708,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HPQ. Ashton Thomas Securities LLC acquired a new position in shares of HP during the 3rd quarter worth about $25,000. Synergy Asset Management LLC acquired a new position in shares of HP during the 4th quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new position in shares of HP during the 4th quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP in the 3rd quarter valued at approximately $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of HP in the 3rd quarter valued at approximately $44,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HP

In related news, insider Kristen M. Ludgate sold 74,356 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the sale, the insider now owns 56,169 shares in the company, valued at approximately $1,933,898.67. This represents a 56.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 262,737 shares of company stock worth $9,316,641 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

HP Stock Down 7.2 %

NYSE:HPQ opened at $30.75 on Friday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The company has a market cap of $28.83 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The business has a 50 day moving average price of $33.11 and a two-hundred day moving average price of $34.84.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. As a group, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

Analysts Set New Price Targets

HPQ has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Sanford C. Bernstein boosted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. TD Cowen decreased their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $36.59.

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.