Intact Investment Management Inc. Sells 43,000 Shares of HP Inc. (NYSE:HPQ)

Intact Investment Management Inc. cut its position in shares of HP Inc. (NYSE:HPQ) by 95.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,000 shares of the computer maker’s stock after selling 43,000 shares during the period. Intact Investment Management Inc.’s holdings in HP were worth $65,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC boosted its stake in HP by 5.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 20,676 shares of the computer maker’s stock valued at $742,000 after buying an additional 1,129 shares in the last quarter. Aptus Capital Advisors LLC acquired a new stake in HP in the 3rd quarter valued at $312,000. Oppenheimer Asset Management Inc. boosted its stake in HP by 108.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,213 shares of the computer maker’s stock valued at $546,000 after buying an additional 7,924 shares in the last quarter. Huntington National Bank boosted its stake in HP by 13.4% in the 3rd quarter. Huntington National Bank now owns 81,015 shares of the computer maker’s stock valued at $2,906,000 after buying an additional 9,591 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in HP by 2.9% in the 3rd quarter. Metis Global Partners LLC now owns 52,443 shares of the computer maker’s stock valued at $1,881,000 after buying an additional 1,464 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the company’s 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 sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HPQ has been the topic of several recent analyst reports. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $38.00 in a research note on Friday, November 29th. JPMorgan Chase & Co. reduced their price objective on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Sanford C. Bernstein boosted their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.14.

HP Stock Up 1.8 %

HPQ stock opened at $28.43 on Friday. The company has a market cap of $26.80 billion, a P/E ratio of 10.12, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The business has a fifty day moving average of $32.36 and a 200-day moving average of $34.42.

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 during 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 research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 4.07%. HP’s dividend payout ratio is presently 41.37%.

HP Company 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.