Primecap Management Co. CA Has $715.10 Million Position in HP Inc. (NYSE:HPQ)

Primecap Management Co. CA cut its holdings in shares of HP Inc. (NYSE:HPQ) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,915,405 shares of the computer maker’s stock after selling 425,035 shares during the quarter. Primecap Management Co. CA owned about 2.34% of HP worth $715,100,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HPQ. Oppenheimer Asset Management Inc. increased its holdings in shares of HP by 108.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 15,213 shares of the computer maker’s stock worth $546,000 after acquiring an additional 7,924 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of HP by 15.6% during the 3rd quarter. CIBC Asset Management Inc now owns 167,533 shares of the computer maker’s stock worth $6,009,000 after acquiring an additional 22,580 shares during the last quarter. Kentucky Retirement Systems boosted its stake in HP by 4.8% in the 3rd quarter. Kentucky Retirement Systems now owns 68,172 shares of the computer maker’s stock valued at $2,445,000 after purchasing an additional 3,136 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in HP by 4.1% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,973 shares of the computer maker’s stock valued at $1,039,000 after purchasing an additional 1,136 shares during the period. Finally, Natixis Advisors LLC boosted its stake in HP by 34.9% in the 3rd quarter. Natixis Advisors LLC now owns 1,042,963 shares of the computer maker’s stock valued at $37,411,000 after purchasing an additional 269,781 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

HP Stock Performance

HP stock opened at $28.91 on Tuesday. HP Inc. has a 52 week low of $27.43 and a 52 week high of $39.80. The stock has a market capitalization of $27.25 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The stock has a fifty day moving average of $32.26 and a 200-day moving average of $34.37.

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

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.00%. HP’s payout ratio is 41.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HPQ shares. Loop Capital reduced their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their price target on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, HP presently 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.