RWC Asset Management LLP Cuts Stock Position in HP Inc. (NYSE:HPQ)

RWC Asset Management LLP trimmed its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,290,693 shares of the computer maker's stock after selling 154,004 shares during the period. HP accounts for 7.8% of RWC Asset Management LLP's investment portfolio, making the stock its biggest holding. RWC Asset Management LLP owned 0.43% of HP worth $129,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its holdings in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker's stock valued at $26,000 after acquiring an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of HP during the 4th quarter valued at $28,000. Janiczek Wealth Management LLC grew its holdings in shares of HP by 116.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker's stock valued at $32,000 after acquiring an additional 566 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of HP during the 4th quarter valued at $34,000. Finally, Salem Investment Counselors Inc. grew its holdings in shares of HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker's stock valued at $36,000 after acquiring an additional 380 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Performance

HP stock traded down $0.13 during trading hours on Friday, hitting $28.00. 5,356,232 shares of the stock were exchanged, compared to its average volume of 6,076,379. The stock has a market capitalization of $27.46 billion, a P/E ratio of 8.19, a P/E/G ratio of 2.35 and a beta of 1.05. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The business's 50-day moving average is $29.27 and its two-hundred day moving average is $28.86.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same period in the prior year, the business earned $0.75 earnings per share. HP's quarterly revenue was down 4.4% on a year-over-year basis. On average, equities analysts predict that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders 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 3.94%. HP's dividend payout ratio is 32.16%.

Insider Transactions at HP

In other news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company's stock, valued at $1,642,381.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Kristen M. Ludgate sold 41,015 shares of the firm's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the firm's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now owns 60,216 shares in the company, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold a total of 116,723 shares of company stock valued at $3,479,287 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on HPQ. StockNews.com cut shares of HP from a "strong-buy" rating to a "buy" rating in a report on Friday, March 1st. Barclays lifted their price objective on shares of HP from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, February 29th. Finally, HSBC raised shares of HP from a "hold" rating to a "buy" rating and lifted their price objective for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.11.

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.