National Pension Service Trims Stock Position in HP Inc. (NYSE:HPQ)

National Pension Service trimmed its holdings in HP Inc. (NYSE:HPQ – Get Rating) by 1.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,355,922 shares of the computer maker’s stock after selling 38,465 shares during the period. National Pension Service owned 0.24% of HP worth $58,992,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GHP Investment Advisors Inc. purchased a new stake in shares of HP in the second quarter valued at about $26,000. Old North State Trust LLC purchased a new stake in shares of HP in the third quarter valued at about $26,000. Certified Advisory Corp purchased a new stake in shares of HP in the first quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of HP in the third quarter valued at about $27,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of HP by 665.7% in the third quarter. Exchange Traded Concepts LLC now owns 1,072 shares of the computer maker’s stock valued at $27,000 after buying an additional 932 shares during the last quarter. 79.68% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

HPQ stock opened at $27.96 on Thursday. The company’s 50 day simple moving average is $28.91 and its 200-day simple moving average is $28.01. The firm has a market capitalization of $27.55 billion, a PE ratio of 11.14, a P/E/G ratio of 3.05 and a beta of 1.01. HP Inc. has a 12 month low of $24.08 and a 12 month high of $41.47.

HP (NYSE:HPQ – Get Rating) last released its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.17 billion. HP had a net margin of 4.36% and a negative return on equity of 141.20%. The company’s quarterly revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 earnings per share. As a group, sell-side analysts anticipate that HP Inc. will post 3.29 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 8th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 3.76%. HP’s dividend payout ratio (DPR) is currently 41.83%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HPQ shares. UBS Group set a $30.00 price target on shares of HP in a report on Thursday, November 24th. Bank of America cut their price target on shares of HP from $27.00 to $26.00 in a report on Wednesday, March 1st. Barclays cut their price target on shares of HP from $27.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, November 23rd. JPMorgan Chase & Co. increased their price target on shares of HP from $27.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, March 1st. Finally, Sanford C. Bernstein cut their price target on shares of HP from $30.00 to $29.00 in a report on Monday, January 9th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. According to MarketBeat, HP has an average rating of “Hold” and a consensus price target of $29.40.

Insider Buying and Selling

In related news, insider David P. Mcquarrie sold 20,609 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $26.64, for a total transaction of $549,023.76. Following the sale, the insider now owns 4,551 shares in the company, valued at $121,238.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other HP news, CFO Marie Myers sold 7,380 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total transaction of $220,440.60. Following the transaction, the chief financial officer now owns 22,648 shares of the company’s stock, valued at $676,495.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David P. Mcquarrie sold 20,609 shares of the stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $26.64, for a total transaction of $549,023.76. Following the transaction, the insider now directly owns 4,551 shares in the company, valued at approximately $121,238.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,749 shares of company stock worth $2,105,460. 0.32% of the stock is owned by insiders.

About HP

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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.