HP Inc (HPQ) Holdings Trimmed by RWC Asset Management LLP
RWC Asset Management LLP decreased its position in HP Inc (NYSE:HPQ) by 17.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 578,289 shares of the computer maker’s stock after selling 125,546 shares during the period. RWC Asset Management LLP’s holdings in HP were worth $12,150,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sandy Spring Bank increased its holdings in HP by 439.8% in the fourth quarter. Sandy Spring Bank now owns 5,236 shares of the computer maker’s stock valued at $110,000 after buying an additional 4,266 shares in the last quarter. San Francisco Sentry Investment Group CA increased its holdings in HP by 188.3% in the third quarter. San Francisco Sentry Investment Group CA now owns 8,057 shares of the computer maker’s stock valued at $161,000 after buying an additional 5,262 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of HP by 9.8% during the second quarter. Advisory Services Network LLC now owns 9,217 shares of the computer maker’s stock worth $161,000 after purchasing an additional 824 shares in the last quarter. Silicon Valley Capital Partners purchased a new stake in shares of HP during the fourth quarter worth about $204,000. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of HP during the fourth quarter worth about $211,000. 81.08% of the stock is owned by institutional investors.
HP Inc (NYSE:HPQ) opened at $20.11 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of -1.98. The firm has a market cap of $33,085.54, a PE ratio of 13.50, a price-to-earnings-growth ratio of 2.11 and a beta of 1.77. HP Inc has a fifty-two week low of $15.55 and a fifty-two week high of $24.10.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Stockholders of record on Wednesday, March 14th will be issued a $0.1393 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.56 annualized dividend and a dividend yield of 2.77%. HP’s dividend payout ratio is currently 37.58%.
In other news, insider Ron Coughlin sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $21.48, for a total value of $537,000.00. Following the transaction, the insider now directly owns 53,173 shares in the company, valued at approximately $1,142,156.04. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jon E. Flaxman sold 271,968 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $21.34, for a total transaction of $5,803,797.12. Following the completion of the transaction, the chief operating officer now owns 243,096 shares in the company, valued at $5,187,668.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 902,988 shares of company stock worth $19,938,441. Company insiders own 0.62% of the company’s stock.
HPQ has been the subject of a number of research reports. Deutsche Bank reissued a “buy” rating and set a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Loop Capital reissued a “buy” rating and set a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Citigroup boosted their target price on shares of HP from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Barclays cut shares of HP from an “overweight” rating to an “equal weight” rating and set a $23.00 target price for the company. in a research note on Wednesday, January 17th. Finally, Morgan Stanley cut shares of HP from an “overweight” rating to an “equal weight” rating and set a $25.00 target price for the company. in a research note on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.83.
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HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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