Mackenzie Financial Corp Sells 6,715 Shares of HP Inc. (NYSE:HPQ)

Mackenzie Financial Corp lowered its stake in HP Inc. (NYSE:HPQ) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,021 shares of the computer maker’s stock after selling 6,715 shares during the quarter. Mackenzie Financial Corp’s holdings in HP were worth $2,618,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rosenberg Matthew Hamilton raised its holdings in HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after buying an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of HP during the fourth quarter valued at about $28,000. Janiczek Wealth Management LLC grew its stake in shares of HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in HP during the 4th quarter valued at about $34,000. Finally, Salem Investment Counselors Inc. raised its position in HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other HP news, insider Stephanie Liebman sold 8,708 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,723 shares of company stock valued at $3,479,287. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays boosted their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, HSBC raised shares of HP from a “hold” rating to a “buy” rating and raised their target price for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP has an average rating of “Moderate Buy” and a consensus target price of $33.11.

HP Price Performance

Shares of NYSE HPQ opened at $27.70 on Tuesday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The firm has a 50-day moving average of $29.32 and a 200 day moving average of $28.83. The stock has a market cap of $27.17 billion, a P/E ratio of 8.10, a price-to-earnings-growth ratio of 2.33 and a beta of 1.05.

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 analysts’ consensus estimates of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts expect that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.98%. The ex-dividend date was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is 32.16%.

About HP

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.