Dodge & Cox Sells 76,270 Shares of HP Inc. (NYSE:HPQ)

Dodge & Cox cut its holdings in shares of HP Inc. (NYSE:HPQ) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,745,905 shares of the computer maker’s stock after selling 76,270 shares during the period. Dodge & Cox’s holdings in HP were worth $1,101,129,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of HPQ. Synergy Asset Management LLC bought a new position in HP in the 4th quarter worth approximately $26,000. Stonebridge Financial Group LLC bought a new position in shares of HP during the fourth quarter valued at about $31,000. OFI Invest Asset Management purchased a new stake in shares of HP in the 4th quarter worth about $37,000. Wingate Wealth Advisors Inc. bought a new stake in shares of HP during the fourth quarter valued at approximately $50,000. Finally, Summit Securities Group LLC purchased a new stake in shares of HP in the 4th quarter worth approximately $55,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

HP stock opened at $24.06 on Tuesday. The company has a market cap of $22.68 billion, a P/E ratio of 8.56, a PEG ratio of 2.96 and a beta of 1.09. The firm’s 50-day moving average is $29.28 and its 200-day moving average is $33.03. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.80.

HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, sell-side analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.2894 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.81%. HP’s dividend payout ratio (DPR) is 41.37%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HPQ shares. Loop Capital decreased their target price on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company raised their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Finally, StockNews.com downgraded HP from a “buy” rating to a “hold” rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.09.

Insider Activity

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

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.