USS Investment Management Ltd Has $7.78 Million Stake in HP Inc. (NYSE:HPQ)

USS Investment Management Ltd decreased its position in HP Inc. (NYSE:HPQ) by 22.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 238,382 shares of the computer maker’s stock after selling 69,283 shares during the quarter. USS Investment Management Ltd’s holdings in HP were worth $7,776,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HPQ. Geode Capital Management LLC grew its position in shares of HP by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock valued at $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Pacer Advisors Inc. boosted its stake in HP by 4.2% during the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after purchasing an additional 592,391 shares during the period. Northern Trust Corp grew its holdings in HP by 15.8% in the 4th quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock valued at $419,126,000 after buying an additional 1,755,942 shares during the last quarter. Invesco Ltd. increased its position in HP by 7.3% in the 4th quarter. Invesco Ltd. now owns 9,511,218 shares of the computer maker’s stock worth $310,351,000 after buying an additional 643,192 shares during the period. Finally, Norges Bank acquired a new position in shares of HP during the fourth quarter worth approximately $229,320,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on HPQ. Evercore ISI reduced their price objective on HP from $40.00 to $32.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Loop Capital cut 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. TD Cowen decreased their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Morgan Stanley boosted their price objective on shares of HP from $25.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, HP presently has an average rating of “Hold” and an average target price of $33.67.

Insider Buying and Selling

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

HP Stock Performance

NYSE:HPQ opened at $28.66 on Thursday. The company has a 50-day moving average of $26.17 and a 200-day moving average of $31.17. The company has a market capitalization of $27.02 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.96 and a beta of 1.32. HP Inc. has a 52 week low of $21.21 and a 52 week high of $39.80.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. Sell-side analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.04%. HP’s payout ratio is presently 41.37%.

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.