Victory Capital Management Inc. Has $32.04 Million Stake in HP Inc. (NYSE:HPQ)

Victory Capital Management Inc. lowered its stake in shares of HP Inc. (NYSE:HPQ) by 48.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 981,870 shares of the computer maker’s stock after selling 927,351 shares during the quarter. Victory Capital Management Inc.’s holdings in HP were worth $32,038,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. King Luther Capital Management Corp grew its holdings in HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares in the last quarter. Arvest Investments Inc. grew its holdings in HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after buying an additional 310 shares in the last quarter. Auxano Advisors LLC grew its holdings in HP by 3.7% during the fourth quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares in the last quarter. Wedmont Private Capital grew its holdings in HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after buying an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in HP by 2.7% during the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after buying an additional 319 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HPQ. Wells Fargo & Company upped their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays increased 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. Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Finally, Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex Cho sold 40,287 shares of HP 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 transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,250,724.80. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,643 shares of company stock worth $4,319,565 in the last quarter. 0.38% of the stock is owned by company insiders.

HP Trading Up 2.0 %

Shares of NYSE HPQ opened at $30.56 on Monday. The stock has a market cap of $28.80 billion, a price-to-earnings ratio of 10.87, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The stock’s 50-day moving average is $32.76 and its 200 day moving average is $34.65.

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

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.79%. 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.