World Asset Management Inc Reduces Stock Position in HP Inc. (NYSE:HPQ)

World Asset Management Inc cut its stake in HP Inc. (NYSE:HPQ) by 6.7% in the third quarter, Holdings Channel.com reports. The firm owned 39,226 shares of the computer maker’s stock after selling 2,807 shares during the quarter. World Asset Management Inc’s holdings in HP were worth $1,073,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rafferty Asset Management LLC lifted its holdings in HP by 16.2% in the third quarter. Rafferty Asset Management LLC now owns 218,435 shares of the computer maker’s stock valued at $5,976,000 after acquiring an additional 30,414 shares during the last quarter. SouthState Corp acquired a new position in HP during the third quarter worth $26,000. O Shaughnessy Asset Management LLC lifted its stake in HP by 203.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,201,854 shares of the computer maker’s stock worth $32,886,000 after purchasing an additional 805,932 shares in the last quarter. Creative Planning lifted its stake in HP by 20.4% during the third quarter. Creative Planning now owns 137,271 shares of the computer maker’s stock worth $3,756,000 after purchasing an additional 23,234 shares in the last quarter. Finally, Forsta AP Fonden lifted its stake in HP by 37.5% during the third quarter. Forsta AP Fonden now owns 440,900 shares of the computer maker’s stock worth $12,063,000 after purchasing an additional 120,300 shares in the last quarter. Institutional investors and hedge funds own 82.28% of the company’s stock.

NYSE:HPQ opened at $38.42 on Friday. The business’s fifty day moving average price is $35.88 and its 200 day moving average price is $31.34. The firm has a market capitalization of $41.60 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 3.63 and a beta of 1.00. HP Inc. has a 12 month low of $24.07 and a 12 month high of $39.65.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 23rd. The computer maker reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.06. The company had revenue of $16.68 billion for the quarter, compared to analyst estimates of $15.42 billion. HP had a negative return on equity of 151.64% and a net margin of 10.24%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.62 earnings per share. On average, equities research analysts anticipate that HP Inc. will post 4.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 6th. Shareholders of record on Wednesday, March 9th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Tuesday, March 8th. HP’s payout ratio is 18.38%.

HPQ has been the topic of a number of research reports. TheStreet upgraded HP from a “c+” rating to a “b-” rating in a research note on Tuesday, November 2nd. Sanford C. Bernstein upped their price target on HP from $32.00 to $40.00 in a research note on Tuesday. Evercore ISI increased their price objective on HP from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, November 24th. JPMorgan Chase & Co. cut HP to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Wednesday, October 6th. Finally, Credit Suisse Group increased their price objective on HP from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $35.38.

In related news, insider Alex Cho sold 38,411 shares of the firm’s stock in a transaction dated Thursday, November 18th. The stock was sold at an average price of $31.04, for a total transaction of $1,192,277.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction dated Monday, January 3rd. The shares were sold at an average price of $37.84, for a total transaction of $1,286,560.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 357,989 shares of company stock worth $12,258,879. Corporate insiders own 0.19% of the company’s stock.

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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