Arrowstreet Capital Limited Partnership Sells 1,217,991 Shares of HP Inc. (NYSE:HPQ)

Arrowstreet Capital Limited Partnership trimmed its position in shares of HP Inc. (NYSE:HPQ) by 14.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,017,437 shares of the computer maker’s stock after selling 1,217,991 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.75% of HP worth $228,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. TIAA Trust National Association raised its stake in HP by 1.8% in the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after buying an additional 302 shares in the last quarter. HBK Sorce Advisory LLC raised its position in shares of HP by 2.7% during the 4th quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after acquiring an additional 306 shares in the last quarter. Auxano Advisors LLC lifted its stake 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 purchasing an additional 310 shares during the last quarter. Wedmont Private Capital increased its stake in HP by 2.6% in the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after purchasing an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc raised 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 purchasing an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Sanford C. Bernstein increased their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. StockNews.com raised HP from a “hold” rating to a “buy” rating in a report on Thursday. Morgan Stanley reduced their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. TD Cowen dropped their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $36.14.

HP Stock Performance

Shares of HP stock opened at $27.90 on Friday. HP Inc. has a one year low of $27.43 and a one year high of $39.80. The company has a market cap of $26.30 billion, a P/E ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. The firm has a fifty day moving average of $31.48 and a two-hundred day moving average of $33.98.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $13.35 billion. As a group, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The business also recently declared 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 4.15%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Activity

In other HP news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,191 shares of company stock worth $1,425,051 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

About HP

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.