HP Inc. (NYSE:HPQ) Stock Position Reduced by AGF Management Ltd.

AGF Management Ltd. cut its stake in shares of HP Inc. (NYSE:HPQ) by 24.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 66,114 shares of the computer maker’s stock after selling 21,144 shares during the period. AGF Management Ltd.’s holdings in HP were worth $2,157,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Atria Investments Inc lifted its stake in shares of HP by 8.2% in the third quarter. Atria Investments Inc now owns 61,848 shares of the computer maker’s stock worth $2,218,000 after buying an additional 4,712 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of HP in the 3rd quarter valued at $25,000. Apollon Wealth Management LLC raised its stake in shares of 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. Sumitomo Mitsui Trust Group Inc. grew its holdings in HP by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,206,009 shares of the computer maker’s stock worth $79,130,000 after acquiring an additional 29,109 shares during the last quarter. Finally, Aptus Capital Advisors LLC bought a new stake in HP during the 3rd quarter worth about $312,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on HPQ shares. StockNews.com lowered shares of HP from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Morgan Stanley reduced their target price on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 in a research note on Friday, November 29th. Citigroup reduced their target price 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.14.

Insiders Place Their Bets

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.

HP Price Performance

Shares of NYSE:HPQ opened at $28.43 on Friday. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 2.96 and a beta of 1.09. The firm’s 50 day simple moving average is $32.36 and its 200 day simple moving average is $34.42. HP Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $39.80.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.07%. HP’s dividend payout ratio (DPR) is currently 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.