HP Inc. (NYSE:HPQ) Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP lowered its holdings in HP Inc. (NYSE:HPQ) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,290,693 shares of the computer maker’s stock after selling 154,004 shares during the period. HP makes up 7.8% of RWC Asset Management LLP’s portfolio, making the stock its biggest position. RWC Asset Management LLP owned about 0.43% of HP worth $129,107,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HPQ. Vanguard Group Inc. increased its position in shares of HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Pacer Advisors Inc. grew its holdings in HP by 4,180.9% during the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after purchasing an additional 9,294,209 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in HP by 145.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock valued at $156,535,000 after purchasing an additional 3,613,742 shares in the last quarter. Hsbc Holdings PLC grew its holdings in HP by 104.6% during the 3rd quarter. Hsbc Holdings PLC now owns 4,352,558 shares of the computer maker’s stock valued at $112,014,000 after purchasing an additional 2,225,530 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in HP during the 3rd quarter valued at $54,302,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HPQ shares. Barclays raised their price target on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and increased their price objective for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. Finally, StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

HP Stock Performance

Shares of HP stock traded down $0.13 during trading hours on Friday, reaching $28.00. The company’s stock had a trading volume of 5,356,232 shares, compared to its average volume of 6,076,379. The company’s 50 day simple moving average is $29.27 and its 200 day simple moving average is $28.85. HP Inc. has a one year low of $25.22 and a one year high of $33.90. The stock has a market cap of $27.46 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 2.35 and a beta of 1.05.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same period last year, the firm posted $0.75 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $0.2756 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.94%. HP’s payout ratio is currently 32.16%.

Insider Transactions at HP

In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is currently owned by insiders.

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.