HP Inc. (NYSE:HPQ) Shares Sold by ING Groep NV

ING Groep NV lowered its stake in HP Inc. (NYSE:HPQ) by 61.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 50,751 shares of the computer maker’s stock after selling 81,786 shares during the quarter. ING Groep NV’s holdings in HP were worth $1,656,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of HPQ. Principal Financial Group Inc. boosted its position in HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares during the last quarter. Oak Thistle LLC grew its holdings in shares of HP by 169.3% during the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after purchasing an additional 21,805 shares during the period. Tidal Investments LLC raised its holdings in HP by 47.5% in the third quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after buying an additional 47,230 shares during the period. MML Investors Services LLC raised its stake in shares of HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after acquiring an additional 16,207 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in shares of HP by 4.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker’s stock valued at $14,581,000 after acquiring an additional 18,557 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other HP news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares in the company, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,035 shares of company stock worth $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several research reports. TD Cowen raised their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Barclays raised their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Wells Fargo & Company upped their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Finally, HSBC lowered HP from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.68.

HP Stock Performance

Shares of HP stock opened at $34.63 on Monday. HP Inc. has a twelve month low of $27.42 and a twelve month high of $39.79. The firm has a market cap of $32.48 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. The firm’s 50-day simple moving average is $33.10 and its 200-day simple moving average is $34.86.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 EPS. On average, equities analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The business 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 dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. HP’s payout ratio is presently 40.93%.

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.