American International Group Inc. Sells 1,591 Shares of HP Inc. (NYSE:HPQ)

American International Group Inc. trimmed its stake in HP Inc. (NYSE:HPQ) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 502,079 shares of the computer maker’s stock after selling 1,591 shares during the quarter. American International Group Inc. owned approximately 0.05% of HP worth $15,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. Rosenberg Matthew Hamilton raised its stake in HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after acquiring an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of HP during the 4th quarter valued at approximately $28,000. Janiczek Wealth Management LLC boosted its holdings in HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in HP in the 4th quarter valued at approximately $34,000. Finally, Salem Investment Counselors Inc. raised its holdings in HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after acquiring an additional 380 shares during the period. 77.53% of the stock is owned by institutional investors.

HP Trading Down 2.6 %

Shares of NYSE:HPQ traded down $0.94 on Friday, reaching $35.51. 8,582,423 shares of the company traded hands, compared to its average volume of 10,355,336. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The business’s 50-day simple moving average is $31.22 and its 200 day simple moving average is $30.14. The stock has a market capitalization of $34.75 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 2.26 and a beta of 1.12.

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

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be issued a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a yield of 3.10%. HP’s dividend payout ratio (DPR) is presently 37.16%.

Insider Activity

In other news, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on HPQ shares. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. UBS Group boosted their price objective on shares of HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Citigroup increased their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. TD Cowen boosted their price objective on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Morgan Stanley raised their target price on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.64.

HP Company 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.