HP Inc. (NYSE:HPQ) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in shares of HP Inc. (NYSE:HPQ) by 26.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 778,182 shares of the computer maker’s stock after selling 285,616 shares during the period. Pictet Asset Management Holding SA’s holdings in HP were worth $25,392,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of HP in the fourth quarter valued at $229,320,000. Caisse Des Depots ET Consignations acquired a new position in shares of HP during the 4th quarter valued at about $513,000. NEOS Investment Management LLC lifted its holdings in shares of HP by 31.4% during the 4th quarter. NEOS Investment Management LLC now owns 52,025 shares of the computer maker’s stock worth $1,698,000 after acquiring an additional 12,443 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of HP by 7.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,509,426 shares of the computer maker’s stock worth $50,022,000 after acquiring an additional 99,983 shares during the last quarter. Finally, TIAA Trust National Association grew its holdings in HP by 1.8% in the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HPQ shares. TD Cowen dropped their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Barclays upped their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.14.

Insider Transactions at HP

In related news, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company’s stock, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

HP Stock Performance

Shares of NYSE HPQ opened at $27.71 on Tuesday. HP Inc. has a 1 year low of $27.30 and a 1 year high of $39.80. The stock’s 50-day simple moving average is $31.38 and its 200-day simple moving average is $33.94. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.18%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

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.