HP Inc. (NYSE:HPQ) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its position in HP Inc. (NYSE:HPQ) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,522 shares of the computer maker’s stock after selling 2,037 shares during the quarter. King Luther Capital Management Corp’s holdings in HP were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Asset Management Holding S.A. raised its holdings in shares of HP by 232.0% during the fourth quarter. BNP Paribas Asset Management Holding S.A. now owns 1,301,862 shares of the computer maker’s stock valued at $39,173,000 after buying an additional 909,719 shares during the last quarter. CreativeOne Wealth LLC boosted its position in HP by 55.9% during the 4th quarter. CreativeOne Wealth LLC now owns 13,134 shares of the computer maker’s stock worth $395,000 after acquiring an additional 4,707 shares during the period. Quest Partners LLC bought a new position in shares of HP in the fourth quarter worth $874,000. Corient Private Wealth LLC grew its stake in shares of HP by 0.4% in the fourth quarter. Corient Private Wealth LLC now owns 293,388 shares of the computer maker’s stock worth $8,828,000 after purchasing an additional 1,197 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of HP by 42.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,672,097 shares of the computer maker’s stock valued at $50,313,000 after purchasing an additional 495,332 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 completion of the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert R. Bennett sold 67,000 shares of the business’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 transaction, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock valued at $3,479,287 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of recent analyst reports. 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 HP from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $24.00 to $30.00 in a research note on Tuesday, May 21st. Bank of America raised their price objective on shares of HP from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, HSBC upgraded HP from a “hold” rating to a “buy” rating and upped their target price for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.00.

HP Stock Performance

HPQ opened at $32.75 on Friday. The company has a market cap of $32.12 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 2.45 and a beta of 1.06. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90. The stock has a 50-day moving average of $29.52 and a 200-day moving average of $29.36.

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

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be issued a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Wednesday, June 12th. HP’s payout ratio is 32.16%.

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.