Brandywine Global Investment Management LLC Reduces Position in HP Inc. (NYSE:HPQ)

Brandywine Global Investment Management LLC trimmed its holdings in HP Inc. (NYSE:HPQ) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 811,866 shares of the computer maker’s stock after selling 62,873 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.09% of HP worth $26,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in HP in the fourth quarter worth $229,320,000. State Street Corp increased 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 worth $1,871,046,000 after buying an additional 3,923,161 shares during the period. Geode Capital Management LLC lifted its holdings in HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after buying an additional 2,477,977 shares in the last quarter. KBC Group NV boosted its position in HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after buying an additional 2,105,104 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in HP in the 4th quarter worth about $65,260,000. 77.53% of the stock is owned by institutional investors.

Insider Activity at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were 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 represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HPQ shares. Wells Fargo & Company lifted their price target 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. Morgan Stanley decreased their target price 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. StockNews.com raised HP from a “hold” rating to a “buy” rating in a research report on Thursday. Loop Capital decreased their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. Finally, TD Cowen dropped their target price on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.14.

HP Stock Down 2.6 %

NYSE:HPQ opened at $27.90 on Monday. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 52 week low of $27.43 and a 52 week high of $39.80. The firm has a 50 day moving average of $31.48 and a 200 day moving average of $33.98.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm 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 EPS for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.15%. HP’s payout ratio is 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.