HP Inc. (NYSE:HPQ) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. reduced its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,037 shares of the computer maker's stock after selling 121,865 shares during the period. Cullinan Associates Inc.'s holdings in HP were worth $5,237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HPQ. Certified Advisory Corp acquired a new position in HP during the first quarter valued at $26,000. Rosenberg Matthew Hamilton lifted its position in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker's stock valued at $26,000 after purchasing an additional 397 shares during the period. Mascoma Wealth Management LLC purchased a new position in HP in the third quarter valued at $25,000. VitalStone Financial LLC purchased a new stake in shares of HP during the 1st quarter worth about $38,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of HP during the 4th quarter worth about $34,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other HP news, insider Stephanie Liebman sold 8,708 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other HP news, insider Stephanie Liebman sold 8,708 shares of the firm's stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert R. Bennett sold 67,000 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares of the company's stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 116,723 shares of company stock valued at $3,479,287. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HPQ shares. HSBC raised shares of HP from a "hold" rating to a "buy" rating and increased their target price for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. Morgan Stanley raised shares of HP from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $31.00 to $35.00 in a research note on Tuesday, December 12th. StockNews.com lowered shares of HP from a "strong-buy" rating to a "buy" rating in a research note on Friday, March 1st. Evercore ISI upgraded shares of HP from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $33.00 to $40.00 in a research report on Monday, December 11th. Finally, Barclays upped their price target on shares of HP from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.11.

HP Stock Down 1.8 %

Shares of HP stock traded down $0.53 during mid-day trading on Friday, hitting $29.11. The stock had a trading volume of 5,158,764 shares, compared to its average volume of 8,327,192. The firm has a 50-day moving average of $29.38 and a two-hundred day moving average of $28.62. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90. The firm has a market cap of $28.55 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The business had revenue of $13.19 billion during the quarter, compared to analysts' expectations of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. Sell-side analysts expect that HP Inc. will post 3.41 earnings per share for the current year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $0.2756 per share. The ex-dividend date was Tuesday, March 12th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.79%. HP's payout ratio is currently 32.16%.

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.

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