HP Inc. (NYSE:HPQ) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. cut its holdings in shares of HP Inc. (NYSE:HPQ) by 4.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,227,694 shares of the computer maker’s stock after selling 51,563 shares during the period. HP accounts for 1.4% of Becker Capital Management Inc.’s investment portfolio, making the stock its 20th largest holding. Becker Capital Management Inc.’s holdings in HP were worth $33,590,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HPQ. Amundi acquired a new stake in HP during the 2nd quarter worth approximately $173,097,000. BlackRock Inc. lifted its holdings in HP by 2.9% during the 2nd quarter. BlackRock Inc. now owns 109,024,707 shares of the computer maker’s stock worth $3,291,454,000 after buying an additional 3,102,708 shares in the last quarter. Laurion Capital Management LP acquired a new stake in HP during the 2nd quarter worth approximately $85,975,000. Invesco Ltd. lifted its holdings in HP by 19.9% during the 2nd quarter. Invesco Ltd. now owns 11,195,961 shares of the computer maker’s stock worth $338,006,000 after buying an additional 1,859,807 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in HP by 34.9% during the 2nd quarter. First Trust Advisors LP now owns 5,520,084 shares of the computer maker’s stock worth $166,651,000 after buying an additional 1,427,500 shares in the last quarter. Institutional investors own 80.06% of the company’s stock.

A number of equities research analysts have recently weighed in on the stock. Credit Suisse Group raised their price objective on shares of HP from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, October 21st. Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research note on Friday, November 5th. TheStreet upgraded shares of HP from a “c+” rating to a “b-” rating in a research note on Tuesday, November 2nd. Bank of America lifted their target price on shares of HP from $29.00 to $33.00 and gave the stock an “underperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of HP to a “hold” rating and set a $30.00 target price for the company. in a research report on Wednesday, October 6th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, HP currently has a consensus rating of “Hold” and a consensus target price of $32.77.

HP stock traded up $3.25 during trading on Thursday, reaching $35.44. The company had a trading volume of 34,001,117 shares, compared to its average volume of 9,616,969. HP Inc. has a 12-month low of $21.80 and a 12-month high of $36.21. The stock’s 50 day moving average price is $29.59 and its two-hundred day moving average price is $29.66. The firm has a market capitalization of $40.85 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.61 and a beta of 1.03.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 23rd. The computer maker reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. HP had a net margin of 6.56% and a negative return on equity of 137.22%. The firm had revenue of $16.68 billion during the quarter, compared to the consensus estimate of $15.42 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. HP’s revenue was up 9.3% compared to the same quarter last year. Equities analysts expect that HP Inc. will post 3.74 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 5th. Shareholders of record on Wednesday, December 8th will be paid a dividend of $0.25 per share. This is an increase from HP’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a yield of 2.82%. The ex-dividend date is Tuesday, December 7th. HP’s payout ratio is currently 24.22%.

In other news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction on Friday, October 1st. The shares were sold at an average price of $27.53, for a total transaction of $936,020.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christoph Schell sold 116,389 shares of the business’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $32.08, for a total transaction of $3,733,759.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,973 shares of company stock valued at $7,430,226. 0.19% of the stock is owned by 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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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