Nomura Asset Management Co. Ltd. Lowers Stake in HP Inc. (NYSE:HPQ)

Nomura Asset Management Co. Ltd. decreased its position in shares of HP Inc. (NYSE:HPQ) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 406,185 shares of the computer maker’s stock after selling 7,387 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in HP were worth $13,254,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of HP during the 4th quarter worth $229,320,000. State Street Corp increased its stake in HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC lifted its position in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV boosted its stake in HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after buying an additional 2,105,104 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in HP in the 4th quarter valued at about $65,260,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HPQ shares. Wells Fargo & Company increased their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. TD Cowen lowered their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Barclays increased their target price on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Sanford C. Bernstein boosted their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. One equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.14.

HP Price Performance

Shares of NYSE HPQ opened at $27.90 on Monday. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80. The company has a market capitalization of $26.30 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. The business has a 50-day moving average of $31.48 and a 200-day moving average of $33.98.

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

HP Dividend Announcement

The company also recently disclosed 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 yield of 4.15%. HP’s dividend payout ratio is currently 41.37%.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

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.