Victory Capital Management Inc. Cuts Stake in HP Inc. (NYSE:HPQ)

Victory Capital Management Inc. lessened its stake in HP Inc. (NYSE:HPQ) by 0.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,434,203 shares of the computer maker’s stock after selling 3,482 shares during the quarter. Victory Capital Management Inc. owned approximately 0.25% of HP worth $73,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rosenberg Matthew Hamilton boosted its holdings in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in HP during the 4th quarter valued at approximately $28,000. Janiczek Wealth Management LLC increased its stake in HP by 116.7% in the 4th 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 last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of HP during the 4th quarter worth approximately $34,000. Finally, Salem Investment Counselors Inc. boosted its position in shares of HP by 47.9% during 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 during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock valued at $3,479,287 in the last 90 days. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of recent research reports. HSBC raised shares of HP from a “hold” rating to a “buy” rating and upped their price target for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. Barclays increased their price target on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Finally, StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.11.

HP Stock Performance

HPQ opened at $28.18 on Friday. The stock’s 50 day moving average price is $29.22 and its 200-day moving average price is $28.88. HP Inc. has a one year low of $25.22 and a one year high of $33.90. The stock has a market cap of $27.63 billion, a price-to-earnings ratio of 8.24, a P/E/G ratio of 2.34 and a beta of 1.06.

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

HP 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.