Korea Investment CORP Reduces Position in HP Inc. (NYSE:HPQ)

Korea Investment CORP reduced its holdings in shares of HP Inc. (NYSE:HPQ) by 13.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 590,565 shares of the computer maker’s stock after selling 90,172 shares during the period. Korea Investment CORP owned about 0.06% of HP worth $19,270,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. State Street Corp lifted its position in shares of HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its position 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 valued at $885,877,000 after buying an additional 2,477,977 shares during the period. Pacer Advisors Inc. grew its stake 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 position in shares of HP by 7.7% during the third 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of HP by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after acquiring an additional 90,606 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HPQ. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Barclays raised their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Morgan Stanley lowered their price objective on shares of HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Wells Fargo & Company boosted their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Finally, TD Cowen cut their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.14.

Insider Transactions at HP

In other news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,191 shares of company stock worth $1,425,051. Company insiders own 0.38% of the company’s stock.

HP Trading Down 2.6 %

Shares of HPQ opened at $27.90 on Friday. The firm has a market cap of $26.30 billion, a PE ratio of 9.93, a P/E/G ratio of 2.96 and a beta of 1.09. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80. The stock has a fifty day moving average price of $31.48 and a 200-day moving average price of $33.98.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.15%. HP’s dividend payout ratio is currently 41.37%.

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.