Intact Investment Management Inc. Sells 43,000 Shares of HP Inc. (NYSE:HPQ)

Intact Investment Management Inc. reduced its holdings in HP Inc. (NYSE:HPQ) by 95.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the computer maker’s stock after selling 43,000 shares during the quarter. Intact Investment Management Inc.’s holdings in HP were worth $65,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. State Street Corp increased its holdings in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the period. Pacer Advisors Inc. boosted its position in shares of HP by 4.2% during the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after buying an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of HP by 7.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock worth $307,816,000 after buying an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of HP by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock worth $222,985,000 after buying an additional 90,606 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

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 transaction of $357,500.00. Following the transaction, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by corporate insiders.

HP Stock Up 1.8 %

HPQ opened at $28.43 on Friday. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80. The stock has a market cap of $26.80 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 2.96 and a beta of 1.09. The business has a 50 day moving average of $32.36 and a 200-day moving average of $34.42.

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

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.07%. HP’s dividend payout ratio (DPR) is currently 41.37%.

Analysts Set New Price Targets

HPQ has been the subject of several recent research reports. Loop Capital reduced their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price target for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Morgan Stanley reduced their price target on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.14.

HP Profile

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.