Clifford Swan Investment Counsel LLC Trims Stock Position in HP Inc. (NYSE:HPQ)

Clifford Swan Investment Counsel LLC lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 755,148 shares of the computer maker’s stock after selling 12,350 shares during the quarter. Clifford Swan Investment Counsel LLC owned approximately 0.08% of HP worth $24,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC increased its holdings in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. increased its holdings in HP by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after acquiring an additional 592,391 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in HP by 7.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after acquiring an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in HP by 11.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock worth $241,876,000 after acquiring an additional 678,985 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

NYSE HPQ opened at $30.75 on Friday. The company has a market capitalization of $28.83 billion, a P/E ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The stock has a 50 day moving average price of $33.11 and a 200-day moving average price of $34.84.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, equities analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.77%. HP’s dividend payout ratio is presently 40.93%.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex Cho sold 40,287 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,737 shares of company stock worth $9,316,641 over the last three months. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on HPQ shares. Morgan Stanley dropped their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday. HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Barclays upped their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday. Sanford C. Bernstein upped their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.59.

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.