Korea Investment CORP Lowers Position in HP Inc. (NYSE:HPQ)

Korea Investment CORP trimmed its position in shares of HP Inc. (NYSE:HPQ) by 13.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 590,565 shares of the computer maker’s stock after selling 90,172 shares during the period. Korea Investment CORP’s holdings in HP were worth $19,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in HPQ. State Street Corp raised its position in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares during the period. Geode Capital Management LLC raised its holdings in HP by 11.1% in the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the period. KBC Group NV boosted its position in HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in HP in the fourth quarter valued at approximately $65,260,000. Finally, Raymond James Financial Inc. acquired a new position in shares of HP during the 4th quarter worth approximately $36,492,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

Shares of HPQ stock opened at $27.90 on Friday. The firm’s 50-day moving average is $31.48 and its two-hundred day moving average is $33.98. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80. The company has a market capitalization of $26.30 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings data 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 negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Sell-side analysts forecast that HP Inc. will post 3.56 EPS 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 given 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 yield of 4.15%. HP’s payout ratio is currently 41.37%.

Analysts Set New Price Targets

HPQ has been the subject of a number of research analyst reports. Loop Capital reduced their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Sanford C. Bernstein upped their price target on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Barclays lifted their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Finally, TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.14.

Insiders Place Their Bets

In related news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. Insiders sold a total of 48,191 shares of company stock valued at $1,425,051 over the last 90 days. 0.38% of the stock is owned by company insiders.

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.