Russell Investments Group Ltd. Sells 34,062 Shares of HP Inc. (NYSE:HPQ)

Russell Investments Group Ltd. trimmed its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,333,754 shares of the computer maker's stock after selling 34,062 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of HP worth $40,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HPQ. Rosenberg Matthew Hamilton increased its position in shares of 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 acquiring an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in HP during the fourth quarter valued at $28,000. Janiczek Wealth Management LLC grew its holdings in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker's stock valued at $32,000 after purchasing an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in HP during the fourth quarter valued at $34,000. Finally, Salem Investment Counselors Inc. grew its holdings in HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker's stock valued at $36,000 after purchasing an additional 380 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Stock Down 0.6 %

NYSE:HPQ traded down $0.18 during trading hours on Tuesday, hitting $28.09. 5,551,043 shares of the company's stock traded hands, compared to its average volume of 7,921,374. The business's fifty day simple moving average is $29.27 and its two-hundred day simple moving average is $28.89. HP Inc. has a 52 week low of $25.22 and a 52 week high of $33.90. The firm has a market cap of $27.55 billion, a P/E ratio of 8.27, a P/E/G ratio of 2.34 and a beta of 1.05.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays increased their price objective on HP from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, February 29th. HSBC raised HP from a "hold" rating to a "buy" rating and raised their price target for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. Finally, StockNews.com lowered HP from a "strong-buy" rating to a "buy" rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.11.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 8,708 shares of HP stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Kristen M. Ludgate sold 41,015 shares of the firm's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the sale, the insider now directly owns 56,169 shares of the company's stock, valued at $1,642,381.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 8,708 shares of the firm's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,723 shares of company stock worth $3,479,287. Company insiders own 0.41% of the company's stock.

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.