New York Life Investment Management LLC Sells 82,171 Shares of HP Inc. (NYSE:HPQ)

New York Life Investment Management LLC lessened its holdings in HP Inc. (NYSE:HPQ) by 37.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,039 shares of the computer maker’s stock after selling 82,171 shares during the quarter. New York Life Investment Management LLC’s holdings in HP were worth $4,184,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of HP by 7.1% during the 4th quarter. Brighton Jones LLC now owns 21,964 shares of the computer maker’s stock worth $661,000 after buying an additional 1,456 shares during the last quarter. Auxano Advisors LLC acquired a new position in HP during the fourth quarter valued at approximately $233,000. Van ECK Associates Corp increased its position in shares of HP by 8.2% during the 4th quarter. Van ECK Associates Corp now owns 30,151 shares of the computer maker’s stock worth $907,000 after purchasing an additional 2,293 shares during the last quarter. Investment House LLC raised its stake in shares of HP by 2.6% during the 4th quarter. Investment House LLC now owns 229,050 shares of the computer maker’s stock worth $6,892,000 after purchasing an additional 5,817 shares in the last quarter. Finally, Choreo LLC acquired a new stake in shares of HP in the 4th quarter valued at approximately $1,355,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, insider Kristen M. Ludgate sold 41,015 shares of the business’s 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 transaction, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction that occurred on 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 of the company’s stock, valued at $1,807,082.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were 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 approximately $1,642,381.56. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock valued at $3,479,287 over the last 90 days. 0.41% of the stock is owned by corporate insiders.

HP Price Performance

HPQ stock opened at $28.18 on Friday. The business’s fifty day moving average price is $29.20 and its two-hundred day moving average price is $28.89. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 2.36 and a beta of 1.06. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90.

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. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The business’s revenue was down 4.4% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.42 EPS for the current year.

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.