Phillips Financial Management LLC Sells 1,543 Shares of HP Inc. (NYSE:HPQ)

Phillips Financial Management LLC cut its position in HP Inc. (NYSE:HPQ) by 16.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,087 shares of the computer maker’s stock after selling 1,543 shares during the quarter. Phillips Financial Management LLC’s holdings in HP were worth $264,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after purchasing an additional 160,268 shares during the period. Amundi lifted its position in shares of HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock valued at $217,319,000 after acquiring an additional 899,349 shares during the period. Oak Thistle LLC lifted its position 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 valued at $1,132,000 after acquiring an additional 21,805 shares during the period. Tidal Investments LLC lifted its position in shares of HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after acquiring an additional 47,230 shares during the period. Finally, MML Investors Services LLC lifted its position in shares of HP by 35.0% during 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. 77.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several recent analyst reports. 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 report on Friday, February 28th. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. HSBC lowered HP from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Loop Capital dropped their target price on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, HP currently has a consensus rating of “Hold” and an average price target of $36.14.

HP Stock Performance

Shares of NYSE HPQ opened at $28.51 on Thursday. The stock has a market cap of $26.87 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80. The stock has a fifty day moving average of $32.54 and a 200-day moving average of $34.52.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates 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 predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.06%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

HP 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.