HP Inc. (NYSE:HPQ) Shares Bought by RWC Asset Management LLP

RWC Asset Management LLP lifted its position in shares of HP Inc. (NYSE:HPQ) by 14.1% during the 4th quarter, HoldingsChannel reports. The fund owned 4,419,796 shares of the computer maker’s stock after purchasing an additional 547,010 shares during the period. HP comprises approximately 7.2% of RWC Asset Management LLP’s portfolio, making the stock its largest holding. RWC Asset Management LLP’s holdings in HP were worth $144,218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HPQ. King Luther Capital Management Corp boosted its stake in shares of HP by 3.2% during the third quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after purchasing an additional 303 shares in the last quarter. Arvest Investments Inc. boosted its position in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after buying an additional 310 shares during the period. Avidian Wealth Enterprises LLC grew its holdings in HP by 4.3% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after acquiring an additional 316 shares during the last quarter. Wedmont Private Capital grew its holdings in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after acquiring an additional 316 shares during the last quarter. Finally, Old Port Advisors raised its stake in shares of HP by 3.4% during the third quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock valued at $345,000 after acquiring an additional 317 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Stock Down 0.3 %

HP stock opened at $34.63 on Monday. The company has a market capitalization of $32.48 billion, a PE ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The firm’s fifty day moving average is $33.10 and its 200 day moving average is $34.86.

HP (NYSE:HPQ) last posted its quarterly earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $14.06 billion for the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently announced 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 of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. HP’s dividend payout ratio is presently 40.93%.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction that occurred on 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 approximately $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 ninety days, insiders sold 273,035 shares of company stock valued at $9,670,068. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. HSBC cut shares of HP from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. TD Cowen raised their price objective on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein upped their target price on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday. Finally, Citigroup reduced their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.68.

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.