Thrivent Financial for Lutherans trimmed its position in HP Inc. (NYSE:HPQ – Get Rating) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,800 shares of the computer maker’s stock after selling 2,160 shares during the quarter. Thrivent Financial for Lutherans’ holdings in HP were worth $1,286,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Romano Brothers AND Company purchased a new stake in shares of HP in the 4th quarter worth $171,000. Covington Capital Management lifted its holdings in shares of HP by 1.4% in the 3rd quarter. Covington Capital Management now owns 49,530 shares of the computer maker’s stock worth $1,234,000 after buying an additional 686 shares during the period. NorthRock Partners LLC purchased a new stake in shares of HP in the 4th quarter worth $246,000. Credit Agricole S A lifted its holdings in shares of HP by 50.7% in the 3rd quarter. Credit Agricole S A now owns 5,328 shares of the computer maker’s stock worth $133,000 after buying an additional 1,793 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of HP by 10.2% during the 4th quarter. Nordea Investment Management AB now owns 1,512,391 shares of the computer maker’s stock worth $40,426,000 after purchasing an additional 139,904 shares during the last quarter. 79.68% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on HPQ shares. Bank of America decreased their price objective on HP from $27.00 to $26.00 in a research note on Wednesday, March 1st. TheStreet cut HP from a “b-” rating to a “c+” rating in a research note on Tuesday, February 28th. StockNews.com started coverage on HP in a research note on Thursday, May 18th. They set a “hold” rating for the company. The Goldman Sachs Group started coverage on HP in a research note on Monday, March 20th. They set a “neutral” rating and a $26.00 price objective for the company. Finally, Morgan Stanley upgraded HP from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $28.00 to $31.00 in a research note on Monday, May 1st. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, HP presently has an average rating of “Hold” and an average target price of $29.69.
HP Stock Performance
HP (NYSE:HPQ – Get Rating) last announced its quarterly earnings data on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 negative return on equity of 141.20% and a net margin of 4.36%. The company’s revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. Sell-side analysts forecast that HP Inc. will post 3.31 earnings per share for the current year.
HP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Wednesday, June 14th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Tuesday, June 13th. HP’s dividend payout ratio (DPR) is 41.83%.
Insider Buying and Selling
In related news, CFO Marie Myers sold 4,165 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $29.86, for a total transaction of $124,366.90. Following the sale, the chief financial officer now directly owns 38,941 shares of the company’s stock, valued at $1,162,778.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other HP news, CEO Enrique Lores sold 38,000 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $29.51, for a total transaction of $1,121,380.00. Following the transaction, the chief executive officer now owns 766,268 shares in the company, valued at $22,612,568.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marie Myers sold 4,165 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $29.86, for a total value of $124,366.90. Following the transaction, the chief financial officer now owns 38,941 shares in the company, valued at approximately $1,162,778.26. The disclosure for this sale can be found here. Insiders have sold a total of 53,710 shares of company stock valued at $1,588,389 over the last ninety days. Company insiders own 0.32% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on HP (HPQ)
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