Rhumbline Advisers Reduces Position in HP Inc. (NYSE:HPQ)

Rhumbline Advisers lessened its holdings in shares of HP Inc. (NYSE:HPQ) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,037,874 shares of the computer maker’s stock after selling 46,510 shares during the period. Rhumbline Advisers owned about 0.22% of HP worth $66,496,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HPQ. Ashton Thomas Securities LLC purchased a new stake in shares of HP in the third quarter valued at approximately $25,000. Synergy Asset Management LLC purchased a new stake in shares of HP in the fourth quarter valued at approximately $26,000. Stonebridge Financial Group LLC purchased a new stake in shares of HP in the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of HP in the third quarter valued at approximately $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of HP in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,250,724.80. The trade was a 38.38 % 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 ninety days. Company insiders own 0.41% of the company’s stock.

HP Trading Up 1.2 %

Shares of HPQ stock opened at $33.69 on Monday. The business’s fifty day simple moving average is $33.17 and its 200-day simple moving average is $34.83. The company has a market cap of $31.59 billion, a PE ratio of 11.99, a PEG ratio of 2.78 and a beta of 1.05. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion for 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 business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. On average, equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors 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 3.44%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 41.28%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays boosted their price target on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. TD Cowen boosted their price objective on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Citigroup reduced their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One investment 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.23.

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.