Corebridge Financial Inc. Sells 14,878 Shares of HP Inc. (NYSE:HPQ)

Corebridge Financial Inc. reduced its position in HP Inc. (NYSE:HPQ) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 441,708 shares of the computer maker’s stock after selling 14,878 shares during the quarter. Corebridge Financial Inc.’s holdings in HP were worth $14,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in shares of HP in the fourth quarter worth $26,000. Stonebridge Financial Group LLC bought a new stake in shares of HP during the fourth quarter valued at about $31,000. OFI Invest Asset Management bought a new position in shares of HP in the fourth quarter valued at approximately $37,000. Itau Unibanco Holding S.A. purchased a new position in HP during the third quarter valued at approximately $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HP during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HPQ. HSBC cut shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. Finally, Loop Capital dropped their target price on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.14.

HP Stock Down 0.8 %

Shares of HPQ opened at $28.78 on Wednesday. The firm has a fifty day simple moving average of $31.73 and a two-hundred day simple moving average of $34.09. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The stock has a market capitalization of $27.13 billion, a P/E ratio of 10.24, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The company had revenue of $13.50 billion for 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%. Sell-side analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 4.02%. HP’s dividend payout ratio (DPR) is presently 41.37%.

Insider Activity

In other news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This represents a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

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.