HP Inc. (NYSE:HPQ) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its holdings in shares of HP Inc. (NYSE:HPQ) by 2.7% during the first quarter, HoldingsChannel reports. The fund owned 169,271 shares of the computer maker’s stock after selling 4,766 shares during the period. Cullinan Associates Inc.’s holdings in HP were worth $5,115,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Rosenberg Matthew Hamilton grew its stake in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in HP during the fourth quarter worth about $28,000. Sawyer & Company Inc increased its holdings in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after acquiring an additional 566 shares in the last quarter. Finally, Rise Advisors LLC grew its holdings in shares of HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In other news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of HP stock traded down $0.48 during trading on Tuesday, reaching $34.49. The company had a trading volume of 1,704,550 shares, compared to its average volume of 8,227,962. The company has a market cap of $33.75 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The firm’s fifty day moving average is $32.71 and its 200-day moving average is $30.61.

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

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Wednesday, September 11th. HP’s payout ratio is 37.16%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HPQ shares. UBS Group increased their price target on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Wells Fargo & Company lifted their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Morgan Stanley increased their target price on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Finally, Bank of America increased their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.64.

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.