HP Inc. (NYSE:HPQ) Shares Sold by Arvest Investments Inc.

Arvest Investments Inc. trimmed its position in shares of HP Inc. (NYSE:HPQ) by 6.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,014 shares of the computer maker’s stock after selling 2,341 shares during the quarter. Arvest Investments Inc.’s holdings in HP were worth $1,045,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after purchasing an additional 592,391 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of HP by 7.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after purchasing an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of HP by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock worth $222,985,000 after purchasing an additional 90,606 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction on 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 directly owns 6,277 shares in the company, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

HP Stock Down 0.9 %

HPQ stock opened at $28.52 on Friday. The company has a market cap of $26.88 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 2.96 and a beta of 1.09. The business has a fifty day simple moving average of $31.97 and a 200-day simple moving average of $34.24. HP Inc. has a 52 week low of $27.43 and a 52 week high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. As a group, analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.06%. HP’s dividend payout ratio is currently 41.37%.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of analyst reports. Loop Capital lowered 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. Citigroup dropped their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein upped their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their price objective on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.14.

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.