Choreo LLC Sells 6,276 Shares of HP Inc. (NYSE:HPQ)

Choreo LLC cut its holdings in HP Inc. (NYSE:HPQ) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,363 shares of the computer maker’s stock after selling 6,276 shares during the period. Choreo LLC’s holdings in HP were worth $3,075,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HPQ. State Street Corp grew its holdings in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV lifted its stake in 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 purchasing an additional 2,105,104 shares during the last quarter. Pacer Advisors Inc. lifted its stake in HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after purchasing an additional 1,455,138 shares during the last quarter. Finally, Bridgewater Associates LP lifted its stake in HP by 2,649.5% in the third quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after purchasing an additional 1,270,642 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

HP Stock Up 0.0 %

HPQ opened at $32.58 on Friday. The stock has a market cap of $30.56 billion, a PE ratio of 11.60, a P/E/G ratio of 2.77 and a beta of 1.05. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The business’s fifty day simple moving average is $33.59 and its 200 day simple moving average is $35.02.

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

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.55%. HP’s dividend payout ratio (DPR) is currently 41.28%.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction dated Monday, December 9th. The shares were 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 directly owns 89,272 shares in the company, valued at approximately $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HPQ. Sanford C. Bernstein upped 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. Barclays increased their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup dropped 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. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, JPMorgan Chase & Co. dropped their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.