HP Inc. (NYSE:HPQ) Position Cut by First Trust Advisors LP

First Trust Advisors LP trimmed its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 11.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,387,615 shares of the computer maker's stock after selling 304,048 shares during the quarter. First Trust Advisors LP owned 0.25% of HP worth $77,908,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GeoWealth Management LLC increased its stake in shares of HP by 12.2% during the fourth quarter. GeoWealth Management LLC now owns 11,546 shares of the computer maker's stock worth $377,000 after acquiring an additional 1,260 shares during the period. Cadence Bank grew its position in HP by 1.6% during the fourth quarter. Cadence Bank now owns 153,523 shares of the computer maker's stock worth $5,009,000 after buying an additional 2,363 shares during the period. Altshuler Shaham Ltd grew its position in HP by 39.0% during the fourth quarter. Altshuler Shaham Ltd now owns 287,505 shares of the computer maker's stock worth $9,381,000 after buying an additional 80,711 shares during the period. NewEdge Advisors LLC grew its position in shares of HP by 0.5% in the fourth quarter. NewEdge Advisors LLC now owns 257,842 shares of the computer maker's stock valued at $8,413,000 after purchasing an additional 1,324 shares during the last quarter. Finally, Evergreen Capital Management LLC grew its position in shares of HP by 3.8% in the fourth quarter. Evergreen Capital Management LLC now owns 241,575 shares of the computer maker's stock valued at $7,952,000 after purchasing an additional 8,938 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

HPQ traded down $0.05 on Friday, reaching $25.28. The company's stock had a trading volume of 5,023,205 shares, compared to its average volume of 7,851,164. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The business's 50 day moving average is $27.67 and its 200 day moving average is $32.30.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. As a group, research analysts forecast that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.58%. The ex-dividend date was Wednesday, March 12th. HP's payout ratio is currently 41.37%.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. StockNews.com downgraded shares of HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, February 28th. Loop Capital lowered their price target on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Finally, TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $34.00.

Insider Buying and Selling at HP

In other news, insider Anneliese Olson sold 21,545 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the stock in a transaction that occurred 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. 0.38% of the stock is currently owned by 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.