Royal London Asset Management Ltd. Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Royal London Asset Management Ltd. reduced its position in shares of HP Inc. (NYSE:HPQFree Report) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,319 shares of the computer maker’s stock after selling 15,642 shares during the period. Royal London Asset Management Ltd.’s holdings in HP were worth $10,992,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in HP in the third quarter valued at approximately $395,000. Kestra Private Wealth Services LLC raised its position in HP by 11.6% in the third quarter. Kestra Private Wealth Services LLC now owns 22,922 shares of the computer maker’s stock valued at $589,000 after purchasing an additional 2,383 shares during the period. D.A. Davidson & CO. raised its position in HP by 6.4% in the third quarter. D.A. Davidson & CO. now owns 12,560 shares of the computer maker’s stock valued at $323,000 after purchasing an additional 761 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of HP by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,538,588 shares of the computer maker’s stock worth $142,342,000 after acquiring an additional 128,865 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of HP by 9.6% during the third quarter. Van ECK Associates Corp now owns 27,858 shares of the computer maker’s stock worth $716,000 after acquiring an additional 2,434 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Performance

Shares of NYSE HPQ opened at $36.19 on Friday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The firm has a market cap of $35.41 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12. The firm’s 50 day moving average price is $30.44 and its 200 day moving average price is $29.81.

HP (NYSE:HPQGet Free Report) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, equities analysts predict that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 13th. Stockholders of record on Wednesday, June 12th will be given a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Wednesday, June 12th. HP’s payout ratio is currently 37.16%.

Insider Transactions at HP

In related news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were 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 owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays upped their price objective on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. HSBC raised HP from a “hold” rating to a “buy” rating and increased their target price for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. Bank of America increased their target price on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Morgan Stanley upped their price objective on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

Read Our Latest Stock Analysis on HP

HP Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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