Kayne Anderson Rudnick Investment Management LLC Sells 34,122 Shares of HP Inc. (NYSE:HPQ)

Kayne Anderson Rudnick Investment Management LLC decreased its position in HP Inc. (NYSE:HPQ - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,998 shares of the computer maker's stock after selling 34,122 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in HP were worth $3,818,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC bought a new position in HP during the fourth quarter worth $26,000. Stonebridge Financial Group LLC bought a new position in HP during the fourth quarter worth $31,000. OFI Invest Asset Management bought a new position in HP during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in HP during the fourth quarter worth $50,000. Finally, Summit Securities Group LLC bought a new position in HP during the fourth quarter worth $55,000. Institutional investors own 77.53% of the company's stock.

HP Stock Performance

Shares of NYSE HPQ traded down $0.05 during mid-day trading on Friday, hitting $25.28. 5,023,205 shares of the stock were exchanged, compared to its average volume of 7,851,164. The company has a market cap of $23.83 billion, a P/E ratio of 9.00, a PEG ratio of 2.96 and a beta of 1.09. The stock's fifty day simple moving average is $27.67 and its two-hundred day simple moving average is $32.30. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80.

HP (NYSE:HPQ - Get Free Report) last posted 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. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date was Wednesday, March 12th. HP's dividend payout ratio is currently 41.37%.

Insider Activity at HP

In related news, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the sale, the insider now owns 169 shares of the company's stock, valued at $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HPQ has been the topic of several analyst reports. Barclays boosted their price target on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Morgan Stanley lowered their price target on shares of HP from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company boosted their price target on shares of HP from $30.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Finally, StockNews.com lowered shares of HP from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. One 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $34.00.

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.