ING Groep NV Has $1.66 Million Stock Position in HP Inc. (NYSE:HPQ)

ING Groep NV cut its position in HP Inc. (NYSE:HPQ) by 61.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 50,751 shares of the computer maker’s stock after selling 81,786 shares during the period. ING Groep NV’s holdings in HP were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of HP during the 3rd quarter valued at $25,000. Synergy Asset Management LLC acquired a new stake in HP in the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC bought a new position in HP in the fourth quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in HP during the 3rd quarter worth approximately $40,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of HP in the 3rd quarter valued at $44,000. 77.53% of the stock is owned by institutional investors.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wells Fargo & Company increased their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday. TD Cowen upped their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. HSBC downgraded HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Citigroup reduced their price target 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, Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.68.

HP Stock Performance

Shares of HPQ opened at $34.63 on Monday. The firm has a market cap of $32.48 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The business’s 50 day moving average price is $33.10 and its two-hundred day moving average price is $34.86.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. Research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

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.