Nuveen Asset Management LLC Decreases Stock Holdings in HP Inc. (NYSE:HPQ)

Nuveen Asset Management LLC cut its holdings in HP Inc. (NYSE:HPQ - Free Report) by 30.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,707,377 shares of the computer maker's stock after selling 2,940,629 shares during the quarter. Nuveen Asset Management LLC owned 0.72% of HP worth $218,862,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HPQ. Geode Capital Management LLC boosted its position in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker's stock valued at $825,398,000 after buying an additional 579,525 shares during the last quarter. Amundi lifted its stake in HP by 15.9% during the 4th quarter. Amundi now owns 6,561,399 shares of the computer maker's stock valued at $217,319,000 after acquiring an additional 899,349 shares during the period. Raymond James Financial Inc. bought a new stake in shares of HP in the fourth quarter worth approximately $36,492,000. Gotham Asset Management LLC raised its holdings in shares of HP by 23.6% during the fourth quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker's stock valued at $20,864,000 after purchasing an additional 122,289 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in HP by 4.3% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 446,848 shares of the computer maker's stock valued at $14,581,000 after purchasing an additional 18,557 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HPQ has been the topic of several research analyst reports. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Citigroup raised their target price on HP from $25.00 to $29.00 and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. reduced 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. Wells Fargo & Company raised their price target on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a report on Thursday, February 20th. Finally, Loop Capital cut their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $34.17.

HP Stock Down 0.7%

HPQ traded down $0.21 on Monday, hitting $29.11. The company had a trading volume of 6,836,433 shares, compared to its average volume of 7,889,931. The business's fifty day simple moving average is $26.14 and its 200 day simple moving average is $31.25. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The company has a market cap of $27.44 billion, a PE ratio of 10.36, a PEG ratio of 2.96 and a beta of 1.32.

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

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, June 11th. HP's dividend payout ratio (DPR) is presently 41.37%.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 15,646 shares of HP 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anneliese Olson sold 21,545 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently 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.