Cullinan Associates Inc. Lowers Stake in HP Inc. (NYSE:HPQ)

Cullinan Associates Inc. reduced its stake in HP Inc. (NYSE:HPQ) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 210,864 shares of the computer maker’s stock after selling 3,661 shares during the quarter. Cullinan Associates Inc.’s holdings in HP were worth $6,880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Tidal Investments LLC lifted its holdings in HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares during the period. Oak Thistle LLC grew its stake in shares of HP by 169.3% during the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after purchasing an additional 21,805 shares during the period. MML Investors Services LLC lifted its stake in shares of HP by 35.0% in the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in HP by 4.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock worth $14,581,000 after buying an additional 18,557 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Barclays upped their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Sanford C. Bernstein raised their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, TD Cowen increased their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, HP has an average rating of “Hold” and a consensus target price of $36.23.

Insiders Place Their Bets

In other news, insider Alex Cho sold 40,287 shares of HP stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 in the last quarter. Insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ opened at $32.02 on Tuesday. The stock has a 50-day simple moving average of $33.92 and a 200-day simple moving average of $35.11. The stock has a market capitalization of $30.03 billion, a P/E ratio of 11.39, a PEG ratio of 2.77 and a beta of 1.05. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business 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 dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is currently 41.28%.

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.