HP Inc. (NYSE:HPQ) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of HP Inc. (NYSE:HPQ) by 0.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,186,506 shares of the computer maker’s stock after selling 19,503 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HP were worth $71,346,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its position 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 worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of HP by 11.1% in the 3rd 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 boosted its stake in HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares during the period. Pacer Advisors Inc. grew its position 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 purchasing an additional 1,455,138 shares in the last quarter. Finally, Bridgewater Associates LP raised its stake in HP by 2,649.5% during the 3rd 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 period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

Shares of HP stock opened at $32.26 on Monday. The firm has a fifty day moving average price of $33.49 and a two-hundred day moving average price of $34.94. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The company has a market cap of $30.25 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last released its 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 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 firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.90 earnings per share. Analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal 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 paid a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.59%. HP’s payout ratio is 40.93%.

Analysts Set New Price Targets

Several brokerages have recently commented on HPQ. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. TD Cowen boosted their price objective 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. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, HP has a consensus rating of “Hold” and an average target price of $36.23.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock valued at $9,670,068 over the last ninety days. 0.41% of the stock is owned by company insiders.

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.