LSV Asset Management Cuts Position in HP Inc. (NYSE:HPQ)

LSV Asset Management lessened its position in HP Inc. (NYSE:HPQ) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,271,291 shares of the computer maker’s stock after selling 253,959 shares during the quarter. HP accounts for approximately 0.8% of LSV Asset Management’s portfolio, making the stock its 26th largest holding. LSV Asset Management owned about 1.24% of HP worth $369,243,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton lifted its position in HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of HP in the 4th quarter valued at $28,000. Janiczek Wealth Management LLC grew its holdings 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 valued at $32,000 after purchasing an additional 566 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in HP in the 4th quarter worth $34,000. Finally, Salem Investment Counselors Inc. raised its position in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity at HP

In related news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock valued at $3,479,287 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

HP Trading Up 0.9 %

Shares of HPQ stock traded up $0.24 during midday trading on Friday, reaching $28.18. 6,648,423 shares of the stock were exchanged, compared to its average volume of 6,200,519. The company’s 50 day moving average is $29.20 and its two-hundred day moving average is $28.89. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The firm has a market cap of $27.64 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.36 and a beta of 1.06.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. HP’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts expect that HP Inc. will post 3.42 EPS for the current fiscal year.

Analyst Ratings Changes

HPQ has been the topic of a number of recent research reports. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. HSBC upgraded HP from a “hold” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Finally, Barclays raised their target price on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

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.