HP Inc. (NYSE:HPQ) Stock Position Decreased by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its stake in shares of HP Inc. (NYSE:HPQ) by 1.7% during the 4th quarter, HoldingsChannel reports. The firm owned 210,864 shares of the computer maker’s stock after selling 3,661 shares during the quarter. Cullinan Associates Inc.’s holdings in HP were worth $6,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of HP in the 3rd quarter worth approximately $25,000. Synergy Asset Management LLC acquired a new position in HP during the 4th quarter valued at about $26,000. Wolff Wiese Magana LLC raised its holdings in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC bought a new stake in HP during the 3rd quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of HP in the third quarter valued at about $40,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Barclays boosted their price objective on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Finally, Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, HP currently has a consensus rating of “Hold” and an average price target of $36.23.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% of the company’s stock.

HP Trading Down 1.5 %

HP stock opened at $32.02 on Tuesday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a 50 day simple moving average of $33.92 and a 200 day simple moving average of $35.11. The firm has a market capitalization of $30.03 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 2.77 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $0.90 earnings per share. On average, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 41.28%.

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.