Desjardins Global Asset Management Inc. Decreases Stake in HP Inc. (NYSE:HPQ)

Desjardins Global Asset Management Inc. decreased its position in HP Inc. (NYSE:HPQ) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,729 shares of the computer maker’s stock after selling 710 shares during the period. Desjardins Global Asset Management Inc.’s holdings in HP were worth $52,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of HP by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after acquiring an additional 12,883,347 shares during the period. Geode Capital Management LLC grew its position in shares of HP by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock valued at $568,395,000 after acquiring an additional 421,075 shares during the period. Morgan Stanley grew its position in shares of HP by 22.5% during the 4th quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock valued at $393,364,000 after acquiring an additional 2,686,976 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of HP by 114,461.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after acquiring an additional 11,528,558 shares during the period. Finally, Northern Trust Corp boosted its holdings in HP by 6.2% in the 3rd quarter. Northern Trust Corp now owns 10,131,560 shares of the computer maker’s stock worth $260,381,000 after buying an additional 589,775 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

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

HP Price Performance

NYSE HPQ opened at $27.82 on Friday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90. The stock has a market capitalization of $27.28 billion, a PE ratio of 8.13, a P/E/G ratio of 2.31 and a beta of 1.05. The company’s 50 day simple moving average is $29.34 and its two-hundred day simple moving average is $28.78.

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

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a dividend yield of 3.96%. The ex-dividend date was Tuesday, March 12th. HP’s dividend payout ratio (DPR) is currently 32.16%.

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.