Radnor Capital Management LLC Cuts Position in HP Inc. (NYSE:HPQ)

Radnor Capital Management LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,787 shares of the computer maker’s stock after selling 2,184 shares during the period. Radnor Capital Management LLC’s holdings in HP were worth $1,498,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Berkshire Hathaway Inc increased its stake in HP by 15.8% in the first quarter. Berkshire Hathaway Inc now owns 120,952,818 shares of the computer maker’s stock valued at $3,549,965,000 after purchasing an additional 16,476,783 shares during the last quarter. BlackRock Inc. increased its stake in HP by 2.4% in the first quarter. BlackRock Inc. now owns 92,440,460 shares of the computer maker’s stock valued at $2,713,127,000 after purchasing an additional 2,170,423 shares during the last quarter. Geode Capital Management LLC increased its stake in HP by 2.2% in the first quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock valued at $568,395,000 after purchasing an additional 421,075 shares during the last quarter. Morgan Stanley increased its stake in HP by 22.5% in the fourth quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock valued at $393,364,000 after purchasing an additional 2,686,976 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in HP by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,172,980 shares of the computer maker’s stock valued at $386,619,000 after purchasing an additional 48,539 shares during the last quarter. 76.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup dropped their price target on shares of HP from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 30th. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Barclays lowered their target price on shares of HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 30th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of HP from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. Finally, 58.com restated a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.73.

Insider Buying and Selling at HP

In other news, major shareholder Berkshire Hathaway Inc sold 2,893,236 shares of HP stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $28.39, for a total transaction of $82,138,970.04. Following the completion of the transaction, the insider now owns 115,450,646 shares of the company’s stock, valued at approximately $3,277,643,839.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Berkshire Hathaway Inc sold 2,893,236 shares of HP stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $28.39, for a total transaction of $82,138,970.04. Following the completion of the transaction, the insider now owns 115,450,646 shares of the company’s stock, valued at approximately $3,277,643,839.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Subra Suresh sold 6,659 shares of HP stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $33.00, for a total value of $219,747.00. Following the transaction, the director now directly owns 59,533 shares of the company’s stock, valued at approximately $1,964,589. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,030,824 shares of company stock valued at $116,034,788. 0.32% of the stock is owned by company insiders.

HP Stock Down 1.5 %

Shares of NYSE HPQ traded down $0.43 during mid-day trading on Friday, hitting $27.39. 1,751,497 shares of the company were exchanged, compared to its average volume of 6,701,121. The stock has a 50 day simple moving average of $31.58 and a 200-day simple moving average of $30.29. HP Inc. has a 1-year low of $24.08 and a 1-year high of $33.90. The firm has a market cap of $27.07 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

HP (NYSE:HPQ) last issued its quarterly earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, hitting the consensus estimate of $0.86. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The firm had revenue of $13.20 billion during the quarter, compared to the consensus estimate of $13.38 billion. During the same period last year, the company earned $1.04 earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Analysts anticipate that HP Inc. will post 3.3 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 13th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is currently 45.26%.

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.