HP Inc. (NYSE:HPQ) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario cut its holdings in HP Inc. (NYSE:HPQ - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,470 shares of the computer maker's stock after selling 34,652 shares during the period. Investment Management Corp of Ontario's holdings in HP were worth $2,789,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of HP during the fourth quarter worth about $229,320,000. KBC Group NV boosted its holdings in HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $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 purchased a new stake in HP in the 4th quarter valued at approximately $65,260,000. Northern Trust Corp lifted its position in shares of HP by 15.8% during the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker's stock valued at $419,126,000 after acquiring an additional 1,755,942 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of HP during the 4th quarter valued at approximately $55,915,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction 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 transaction, the insider now owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

HP Stock Up 0.5%

Shares of NYSE HPQ traded up $0.13 during trading on Thursday, hitting $28.78. 7,928,518 shares of the company traded hands, compared to its average volume of 7,867,251. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80. The company has a 50-day moving average price of $26.15 and a 200-day moving average price of $31.43. The firm has a market capitalization of $27.13 billion, a P/E ratio of 10.24, a P/E/G ratio of 2.96 and a beta of 1.32.

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

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.2894 per share. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 annualized dividend and a dividend yield of 4.02%. HP's payout ratio is 41.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays lifted their price target on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of HP from $40.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Evercore ISI reduced their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Loop Capital lowered their price target on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded HP from a "hold" rating to a "buy" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, HP currently has an average rating of "Hold" and a consensus price target of $33.83.

About HP

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.