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

RWC Asset Management LLP lessened its holdings in HP Inc. (NYSE:HPQ) by 3.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,290,693 shares of the computer maker’s stock after selling 154,004 shares during the period. HP makes up 7.8% of RWC Asset Management LLP’s portfolio, making the stock its biggest position. RWC Asset Management LLP’s holdings in HP were worth $129,107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Whittier Trust Co. grew its holdings in HP by 1.4% during the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock worth $778,000 after acquiring an additional 362 shares during the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of HP by 47.9% in the 4th 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 last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of HP by 18.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock valued at $73,000 after purchasing an additional 382 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of HP by 84.6% in the 4th 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 last quarter. Finally, PDS Planning Inc boosted its stake in shares of HP by 4.8% in the 3rd quarter. PDS Planning Inc now owns 8,879 shares of the computer maker’s stock valued at $228,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HPQ. HSBC raised shares of HP from a “hold” rating to a “buy” rating and raised their target price for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. StockNews.com downgraded shares of HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Barclays increased their price target on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.11.

Insiders Place Their Bets

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction that occurred 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 approximately $1,642,381.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,723 shares of company stock worth $3,479,287. Company insiders own 0.41% of the company’s stock.

HP Stock Performance

HPQ stock traded down $0.13 during mid-day trading on Friday, hitting $28.00. 5,356,232 shares of the company were exchanged, compared to its average volume of 6,076,379. The firm has a market cap 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. The firm’s 50 day simple moving average is $29.27 and its 200 day simple moving average is $28.85. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90.

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

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th were issued a dividend of $0.2756 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 annualized dividend and a yield of 3.94%. HP’s dividend payout ratio (DPR) 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.