HP Inc. (NYSE:HPQ) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its position in HP Inc. (NYSE:HPQ) by 19.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,862 shares of the computer maker’s stock after selling 74,986 shares during the period. Intech Investment Management LLC’s holdings in HP were worth $9,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in HP by 4,180.9% in the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after acquiring an additional 9,294,209 shares during the period. Norges Bank acquired a new position in HP in the fourth quarter valued at approximately $187,264,000. Schroder Investment Management Group boosted its stake in HP by 1,472.4% in the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after acquiring an additional 2,120,096 shares during the period. California Public Employees Retirement System boosted its stake in HP by 69.6% in the fourth quarter. California Public Employees Retirement System now owns 5,030,982 shares of the computer maker’s stock valued at $151,382,000 after acquiring an additional 2,064,869 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in HP by 10,188.2% in the first quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after acquiring an additional 1,760,631 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HPQ shares. TD Cowen lifted their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their target price on HP from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Wells Fargo & Company lifted their price target on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Citigroup lifted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, UBS Group lifted their price target on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.64.

HP Price Performance

Shares of HPQ stock traded down $0.23 on Friday, hitting $37.15. The company’s stock had a trading volume of 4,773,663 shares, compared to its average volume of 6,861,315. 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 price is $35.04 and its 200-day moving average price is $31.22. The stock has a market capitalization of $36.35 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 2.36 and a beta of 1.09.

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

HP Announces Dividend

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 given a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is 37.16%.

Insiders Place Their Bets

In other HP news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

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.