Aviva PLC Trims Stake in HP Inc. (NYSE:HPQ)

Aviva PLC cut its holdings in shares of HP Inc. (NYSE:HPQ) by 12.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 615,112 shares of the computer maker’s stock after selling 88,987 shares during the quarter. Aviva PLC owned about 0.07% of HP worth $20,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HPQ. Norges Bank purchased a new position in HP during the fourth quarter worth about $229,320,000. Geode Capital Management LLC lifted its holdings in shares of HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after acquiring an additional 2,477,977 shares during the last quarter. KBC Group NV boosted its position in shares of HP by 145.1% during the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in HP in the 4th quarter valued at approximately $65,260,000. Finally, Raymond James Financial Inc. purchased a new stake in HP in the fourth quarter valued at approximately $36,492,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Barclays boosted their price target on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. 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. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Finally, Loop Capital reduced their target price 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.14.

HP Price Performance

NYSE:HPQ opened at $23.32 on Tuesday. HP Inc. has a 12 month low of $21.59 and a 12 month high of $39.80. The firm has a market capitalization of $21.98 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The business’s fifty day moving average price is $30.58 and its 200 day moving average price is $33.62.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting 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%. As a group, equities analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.97%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, 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 insiders.

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.