Cullinan Associates Inc. Decreases Stock Holdings in HP Inc. (NYSE:HPQ)

Cullinan Associates Inc. decreased its stake in HP Inc. (NYSE:HPQ) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 169,271 shares of the computer maker’s stock after selling 4,766 shares during the quarter. Cullinan Associates Inc.’s holdings in HP were worth $5,115,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after acquiring an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in HP during the 4th quarter valued at about $28,000. Sawyer & Company Inc raised its holdings in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in shares of HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares during the period. Finally, Rise Advisors LLC boosted its stake in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Performance

HP stock traded down $0.48 during trading on Tuesday, reaching $34.49. The company had a trading volume of 1,704,550 shares, compared to its average volume of 8,227,962. The firm has a market capitalization of $33.75 billion, a PE ratio of 11.81, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. HP Inc. has a 1-year low of $25.22 and a 1-year high of $39.52. The firm’s 50-day simple moving average is $32.71 and its 200 day simple moving average is $30.61.

HP (NYSE:HPQ) last released its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter last year, the business posted $0.80 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. Analysts anticipate that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is 37.16%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HPQ shares. Wells Fargo & Company upped their target price on HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. UBS Group raised their price objective on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Barclays increased their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Morgan Stanley increased their price objective on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Bank of America raised their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.64.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of HP stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.

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.