Pictet Asset Management Holding SA Decreases Stake in HP Inc. (NYSE:HPQ)

Pictet Asset Management Holding SA lessened its position in shares of HP Inc. (NYSE:HPQ) by 26.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 778,182 shares of the computer maker’s stock after selling 285,616 shares during the period. Pictet Asset Management Holding SA owned about 0.08% of HP worth $25,392,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HPQ. Norges Bank purchased a new position in HP in the fourth quarter valued at $229,320,000. State Street Corp increased its holdings in shares of HP by 8.2% in the 3rd 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 during the last quarter. Geode Capital Management LLC raised its position in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. KBC Group NV lifted its stake in HP by 145.1% during the fourth 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 last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in HP in the fourth quarter valued at approximately $65,260,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of 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. Corporate insiders own 0.38% of the company’s stock.

HP Trading Down 0.7 %

Shares of HPQ opened at $27.71 on Tuesday. The stock’s 50 day moving average is $31.38 and its two-hundred day moving average is $33.94. HP Inc. has a twelve month low of $27.30 and a twelve month high of $39.80. The firm has a market capitalization of $26.13 billion, a PE ratio of 9.86, a P/E/G ratio of 2.96 and a beta of 1.09.

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

HP Announces Dividend

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 given a dividend of $0.2894 per share. 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 4.18%. HP’s payout ratio is 41.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. Wells Fargo & Company upped their price objective on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research report on Thursday, March 27th. Loop Capital decreased their target price on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Finally, Sanford C. Bernstein lifted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.14.

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.