HP Inc. (HPQ) Stake Lowered by MetLife Investment Advisors LLC

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MetLife Investment Advisors LLC decreased its position in HP Inc. (NYSE:HPQ) by 4.7% during the third quarter, HoldingsChannel.com reports. The firm owned 460,372 shares of the computer maker’s stock after selling 22,811 shares during the quarter. MetLife Investment Advisors LLC’s holdings in HP were worth $11,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HPQ. First American Bank bought a new position in HP during the third quarter worth $4,044,000. Private Advisor Group LLC increased its position in HP by 148.4% during the second quarter. Private Advisor Group LLC now owns 84,522 shares of the computer maker’s stock worth $1,929,000 after acquiring an additional 50,500 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in HP by 1.2% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,177,800 shares of the computer maker’s stock worth $72,104,000 after acquiring an additional 37,300 shares during the period. Atria Investments LLC increased its position in HP by 7.0% during the third quarter. Atria Investments LLC now owns 59,078 shares of the computer maker’s stock worth $1,522,000 after acquiring an additional 3,844 shares during the period. Finally, BDO Wealth Advisors LLC increased its position in HP by 15.8% during the second quarter. BDO Wealth Advisors LLC now owns 45,442 shares of the computer maker’s stock worth $1,031,000 after acquiring an additional 6,208 shares during the period. 78.78% of the stock is currently owned by institutional investors.

In other HP news, COO Catherine A. Lesjak sold 693,594 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $25.78, for a total value of $17,880,853.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alex Cho sold 3,879 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $23.68, for a total transaction of $91,854.72. The disclosure for this sale can be found here. Insiders sold a total of 946,068 shares of company stock worth $23,897,254 in the last three months. Insiders own 0.25% of the company’s stock.

Shares of HP stock opened at $22.01 on Friday. The firm has a market capitalization of $34.83 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 2.13 and a beta of 1.45. HP Inc. has a 52-week low of $19.31 and a 52-week high of $27.08.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, November 29th. The computer maker reported $0.54 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. The firm had revenue of $15.37 billion for the quarter, compared to analyst estimates of $15.13 billion. HP had a net margin of 9.11% and a negative return on equity of 188.62%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. On average, equities research analysts forecast that HP Inc. will post 2.17 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Thursday, December 13th will be issued a $0.1602 dividend. This represents a $0.64 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.14. HP’s payout ratio is 31.68%.

A number of brokerages recently issued reports on HPQ. BMO Capital Markets reaffirmed a “hold” rating and set a $22.00 target price on shares of HP in a research report on Thursday, October 4th. JPMorgan Chase & Co. lowered shares of HP from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $29.00 in a research report on Friday, October 5th. Susquehanna Bancshares set a $25.00 target price on shares of HP and gave the stock a “hold” rating in a research report on Thursday, October 4th. Bank of America boosted their target price on shares of HP from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Finally, UBS Group boosted their target price on shares of HP from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.25.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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