HP Inc. (NYSE:HPQ) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its position in HP Inc. (NYSE:HPQ) by 14.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,017,437 shares of the computer maker’s stock after selling 1,217,991 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in HP were worth $228,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Allstate Corp acquired a new stake in shares of HP during the fourth quarter worth $912,000. DnB Asset Management AS boosted its stake in HP by 0.4% in the 4th quarter. DnB Asset Management AS now owns 1,395,641 shares of the computer maker’s stock worth $45,540,000 after buying an additional 5,086 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in HP by 15.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 22,358 shares of the computer maker’s stock worth $730,000 after buying an additional 3,043 shares during the last quarter. Norges Bank acquired a new position in shares of HP during the 4th quarter valued at about $229,320,000. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of HP during the 4th quarter worth about $513,000. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Trading Down 2.6 %

HPQ opened at $27.90 on Friday. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The firm has a market cap of $26.30 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. The company has a fifty day simple moving average of $31.48 and a 200 day simple moving average of $33.98.

HP (NYSE:HPQ) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company 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. This represents a $1.16 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Morgan Stanley lowered their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Sanford C. Bernstein upped their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Barclays increased their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,191 shares of company stock valued at $1,425,051. Corporate insiders own 0.38% of the company’s stock.

HP Company 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.