Bryn Mawr Capital Management LLC Trims Holdings in HP Inc. (NYSE:HPQ)

Bryn Mawr Capital Management LLC lessened its stake in shares of HP Inc. (NYSE:HPQ) by 30.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 81,546 shares of the computer maker’s stock after selling 36,476 shares during the period. Bryn Mawr Capital Management LLC’s holdings in HP were worth $2,661,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. State Street Corp raised its position in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. KBC Group NV raised its holdings in shares of HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after acquiring an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in HP in the fourth quarter worth about $65,260,000. Finally, Pacer Advisors Inc. grew its holdings in HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday. Citigroup reduced their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. HSBC lowered HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, TD Cowen lifted their target price 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. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.68.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,035 shares of company stock valued at $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Stock Up 0.1 %

HP stock opened at $34.73 on Friday. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The stock has a 50-day moving average price of $33.10 and a 200 day moving average price of $34.81. The company has a market capitalization of $32.57 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.92 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business 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 business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 EPS. Research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 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.