Foundation Resource Management Inc. Sells 2,545 Shares of HP Inc. (NYSE:HPQ)

Foundation Resource Management Inc. cut its stake in HP Inc. (NYSE:HPQ) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,423 shares of the computer maker’s stock after selling 2,545 shares during the period. HP makes up approximately 2.1% of Foundation Resource Management Inc.’s holdings, making the stock its 17th biggest position. Foundation Resource Management Inc.’s holdings in HP were worth $12,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its position in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC boosted its holdings in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. DME Capital Management LP grew its stake in shares of HP by 108.7% in the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the period. Pacer Advisors Inc. raised its holdings in shares of HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of HP by 6.2% during the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HP

In other news, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the transaction, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Up 0.1 %

NYSE:HPQ opened at $32.66 on Wednesday. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The stock’s fifty day simple moving average is $35.05 and its 200-day simple moving average is $35.40. The firm has a market capitalization of $30.63 billion, a P/E ratio of 11.62, a P/E/G ratio of 2.95 and a beta of 1.05.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.90 earnings per share. As a group, equities research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a $0.2894 dividend. The ex-dividend date was Wednesday, December 11th. This is a positive change from HP’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.54%. HP’s dividend payout ratio (DPR) is 40.93%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent analyst reports. Barclays increased their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. HSBC cut shares of HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Finally, Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus price target of $36.23.

HP 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.