HP Inc. (NYSE:HPQ) Shares Sold by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,319 shares of the computer maker’s stock after selling 15,642 shares during the quarter. Royal London Asset Management Ltd.’s holdings in HP were worth $10,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC increased its holdings in HP by 65.9% during the 4th quarter. EP Wealth Advisors LLC now owns 32,580 shares of the computer maker’s stock worth $980,000 after purchasing an additional 12,946 shares during the last quarter. Syon Capital LLC bought a new stake in shares of HP in the fourth quarter worth $273,000. V Square Quantitative Management LLC raised its holdings in HP by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 15,759 shares of the computer maker’s stock valued at $474,000 after acquiring an additional 3,904 shares in the last quarter. GLOBALT Investments LLC GA bought a new position in HP during the 4th quarter valued at $5,729,000. Finally, Voisard Asset Management Group Inc. acquired a new position in HP during the 4th quarter worth $84,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HP

In other news, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the topic of several research analyst reports. Bank of America increased their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. lifted their target price on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Barclays boosted their price target on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. Morgan Stanley raised their price objective on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company boosted their target price on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, HP currently has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Trading Down 2.6 %

HP stock traded down $0.94 during midday trading on Friday, reaching $35.51. 8,582,423 shares of the stock traded hands, compared to its average volume of 10,355,336. The firm has a fifty day moving average price of $31.22 and a two-hundred day moving average price of $30.14. The firm has a market cap of $34.75 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.26 and a beta of 1.12. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52.

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

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a $0.2756 dividend. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.10%. HP’s payout ratio is currently 37.16%.

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.