Corebridge Financial Inc. Sells 14,878 Shares of HP Inc. (NYSE:HPQ)

Corebridge Financial Inc. reduced its stake in HP Inc. (NYSE:HPQ) by 3.3% during the fourth quarter, HoldingsChannel reports. The fund owned 441,708 shares of the computer maker’s stock after selling 14,878 shares during the period. Corebridge Financial Inc.’s holdings in HP were worth $14,413,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in HP by 8.2% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its stake 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 worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after buying an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in HP by 7.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after buying an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of HP by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after acquiring an additional 90,606 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HPQ. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Citigroup cut their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays raised their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Loop Capital cut their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.14.

Insider Activity at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is currently owned by insiders.

HP Trading Down 0.8 %

Shares of HP stock opened at $28.78 on Wednesday. The stock has a 50 day moving average of $31.73 and a 200 day moving average of $34.09. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80. The firm has a market cap of $27.13 billion, a PE ratio of 10.24, a PEG ratio of 2.96 and a beta of 1.09.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is 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.