Envestnet Asset Management Inc. Sells 136,061 Shares of HP Inc. (NYSE:HPQ)

Envestnet Asset Management Inc. lowered its stake in HP Inc. (NYSE:HPQ) by 16.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 671,790 shares of the computer maker’s stock after selling 136,061 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of HP worth $19,717,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its position in HP by 114,461.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after purchasing an additional 11,528,558 shares during the last quarter. Norges Bank acquired a new stake in HP during the 4th quarter worth approximately $151,025,000. Morgan Stanley grew its holdings in HP by 22.5% during the 4th quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock worth $393,364,000 after acquiring an additional 2,686,976 shares during the last quarter. Citigroup Inc. raised its stake in shares of HP by 106.0% during the first quarter. Citigroup Inc. now owns 2,334,602 shares of the computer maker’s stock valued at $68,521,000 after acquiring an additional 1,201,415 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of HP by 247.9% during the fourth quarter. Two Sigma Investments LP now owns 1,495,054 shares of the computer maker’s stock worth $40,172,000 after purchasing an additional 1,065,337 shares during the period. 76.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HPQ. Citigroup cut their target price on HP from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday. 58.com restated a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. JPMorgan Chase & Co. dropped their target price on shares of HP from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Bank of America decreased their price target on HP from $27.00 to $25.00 and set an “underperform” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, HP currently has a consensus rating of “Hold” and an average price target of $30.00.

HP Stock Up 2.2 %

Shares of NYSE:HPQ opened at $30.35 on Friday. HP Inc. has a twelve month low of $24.08 and a twelve month high of $33.90. The stock’s 50 day moving average is $31.77 and its 200-day moving average is $30.32. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 2.34 and a beta of 1.01.

HP (NYSE:HPQ) last posted its earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The company had revenue of $13.20 billion for the quarter, compared to analyst estimates of $13.38 billion. HP had a net margin of 4.75% and a negative return on equity of 121.57%. The firm’s revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.04 EPS. Equities research analysts anticipate that HP Inc. will post 3.35 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 13th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, September 12th. HP’s dividend payout ratio (DPR) is presently 45.26%.

Insider Transactions at HP

In related news, insider Alex Cho sold 22,490 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $30.50, for a total transaction of $685,945.00. Following the completion of the transaction, the insider now owns 22,003 shares in the company, valued at $671,091.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Alex Cho sold 22,490 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $30.50, for a total transaction of $685,945.00. Following the completion of the transaction, the insider now owns 22,003 shares in the company, valued at approximately $671,091.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Enrique Lores sold 156,976 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $30.69, for a total transaction of $4,817,593.44. Following the sale, the chief executive officer now owns 766,268 shares in the company, valued at $23,516,764.92. The disclosure for this sale can be found here. Insiders have sold 194,455 shares of company stock worth $5,986,805 in the last 90 days. Insiders own 0.32% of the company’s stock.

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.