Sei Investments Co. Sells 33,377 Shares of HP Inc. (NYSE:HPQ)

Sei Investments Co. cut its holdings in HP Inc. (NYSE:HPQ) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,540,443 shares of the computer maker’s stock after selling 33,377 shares during the period. Sei Investments Co.’s holdings in HP were worth $50,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HPQ. American Century Companies Inc. lifted its stake in HP by 5.1% in the fourth quarter. American Century Companies Inc. now owns 4,941,573 shares of the computer maker’s stock valued at $161,244,000 after buying an additional 237,845 shares during the period. Mizuho Securities USA LLC lifted its position in shares of HP by 43.9% during the 4th quarter. Mizuho Securities USA LLC now owns 91,339 shares of the computer maker’s stock valued at $2,980,000 after acquiring an additional 27,885 shares during the period. Virtu Financial LLC acquired a new position in shares of HP during the 4th quarter valued at $522,000. Lee Danner & Bass Inc. bought a new position in HP during the fourth quarter worth $101,000. Finally, Northwest & Ethical Investments L.P. grew its holdings in HP by 10.8% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 298,168 shares of the computer maker’s stock worth $9,729,000 after purchasing an additional 29,080 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

HP Trading Up 0.4 %

Shares of NYSE:HPQ opened at $28.63 on Monday. The stock has a market cap of $26.98 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The stock’s fifty day simple moving average is $31.88 and its two-hundred day simple moving average is $34.17. HP Inc. has a 1-year low of $27.43 and a 1-year high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to analysts’ expectations of $13.35 billion. On average, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is 41.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on HPQ. TD Cowen cut their price objective on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. One equities research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.