Rafferty Asset Management LLC Sells 5,225 Shares of HP Inc. (NYSE:HPQ)

Rafferty Asset Management LLC lessened its stake in shares of HP Inc. (NYSE:HPQ) by 1.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 328,046 shares of the computer maker’s stock after selling 5,225 shares during the period. Rafferty Asset Management LLC’s holdings in HP were worth $10,704,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of HPQ. Barclays PLC raised its holdings in HP by 8.7% during the third quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock worth $82,772,000 after acquiring an additional 183,741 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in HP by 36.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 332,956 shares of the computer maker’s stock worth $10,864,000 after acquiring an additional 88,822 shares in the last quarter. Park Avenue Securities LLC raised its holdings in HP by 7.2% during the fourth quarter. Park Avenue Securities LLC now owns 43,171 shares of the computer maker’s stock worth $1,409,000 after acquiring an additional 2,897 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in HP during the fourth quarter worth about $530,000. Finally, Ritholtz Wealth Management increased its position in HP by 1.3% during the fourth quarter. Ritholtz Wealth Management now owns 97,423 shares of the computer maker’s stock worth $3,179,000 after buying an additional 1,228 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HPQ shares. Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on HP from $40.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Wells Fargo & Company boosted their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. Finally, Citigroup boosted their price target on HP from $25.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, HP has an average rating of “Hold” and a consensus price target of $34.17.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 15,646 shares of the firm’s stock in a transaction 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 filing with the SEC, which is available at this link. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

HP Price Performance

Shares of NYSE:HPQ opened at $29.34 on Friday. The company has a market capitalization of $27.65 billion, a P/E ratio of 10.44, a P/E/G ratio of 2.96 and a beta of 1.32. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The business’s 50 day simple moving average is $26.14 and its 200 day simple moving average is $31.31.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion for 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%. On average, sell-side analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date of this dividend is Wednesday, June 11th. HP’s dividend payout ratio is currently 41.37%.

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.