Russell Investments Group Ltd. Has $40.14 Million Stake in HP Inc. (NYSE:HPQ)

Russell Investments Group Ltd. cut its holdings in shares of HP Inc. (NYSE:HPQ) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,333,754 shares of the computer maker’s stock after selling 34,062 shares during the quarter. Russell Investments Group Ltd.’s holdings in HP were worth $40,141,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in HPQ. Rosenberg Matthew Hamilton boosted its position in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC bought a new position in HP during the 4th quarter worth $28,000. Janiczek Wealth Management LLC increased its position in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after acquiring an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of HP in the fourth quarter valued at approximately $34,000. Finally, Salem Investment Counselors Inc. raised its holdings in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after acquiring an additional 380 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock worth $3,479,287 over the last ninety days. 0.41% of the stock is owned by insiders.

HP Price Performance

NYSE:HPQ opened at $28.27 on Tuesday. HP Inc. has a one year low of $25.22 and a one year high of $33.90. The firm’s 50 day simple moving average is $29.27 and its 200 day simple moving average is $28.89. The company has a market cap of $27.73 billion, a PE ratio of 8.27, a P/E/G ratio of 2.34 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. HP’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Equities research analysts expect that HP Inc. will post 3.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Barclays raised their price target on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Finally, HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

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.