Foundation Resource Management Inc. Sells 8,686 Shares of HP Inc (HPQ)

Foundation Resource Management Inc. decreased its stake in HP Inc (NYSE:HPQ) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 629,698 shares of the computer maker’s stock after selling 8,686 shares during the period. HP comprises 2.4% of Foundation Resource Management Inc.’s holdings, making the stock its 17th largest position. Foundation Resource Management Inc.’s holdings in HP were worth $13,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of HP by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 123,633,569 shares of the computer maker’s stock worth $2,161,114,000 after purchasing an additional 1,945,965 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of HP by 2.5% in the 2nd quarter. BlackRock Inc. now owns 108,599,783 shares of the computer maker’s stock worth $1,898,325,000 after purchasing an additional 2,608,983 shares during the last quarter. Boston Partners lifted its holdings in shares of HP by 45.9% in the 3rd quarter. Boston Partners now owns 38,111,672 shares of the computer maker’s stock worth $760,709,000 after purchasing an additional 11,994,111 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of HP by 9.8% in the 3rd quarter. Wells Fargo & Company MN now owns 15,902,375 shares of the computer maker’s stock worth $317,411,000 after purchasing an additional 1,415,318 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of HP by 4.5% in the 3rd quarter. Capital International Investors now owns 15,501,200 shares of the computer maker’s stock worth $309,404,000 after purchasing an additional 672,800 shares during the last quarter. 80.89% of the stock is currently owned by institutional investors and hedge funds.

HP Inc (HPQ) traded down $0.03 on Wednesday, hitting $21.81. The stock had a trading volume of 7,859,400 shares, compared to its average volume of 6,741,383. HP Inc has a 12 month low of $14.40 and a 12 month high of $22.68. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of -1.98. The company has a market cap of $36,160.00, a P/E ratio of 14.74, a PEG ratio of 2.30 and a beta of 1.81.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 21st. The computer maker reported $0.44 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.44. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The company had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. research analysts expect that HP Inc will post 1.79 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th were paid a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend was Tuesday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.13. HP’s payout ratio is currently 37.84%.

Several analysts have weighed in on the company. Maxim Group reaffirmed a “hold” rating and set a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Royal Bank of Canada lifted their target price on HP from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. BMO Capital Markets lifted their target price on HP to $23.00 and gave the company a “positive” rating in a research note on Wednesday, November 22nd. Citigroup lifted their target price on HP from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Loop Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of HP in a research note on Wednesday, November 22nd. Twelve analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.31.

In other news, COO Jon E. Flaxman sold 207,806 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $21.58, for a total value of $4,484,453.48. Following the sale, the chief operating officer now owns 298,538 shares of the company’s stock, valued at approximately $6,442,450.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dion J. Weisler sold 525,719 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $21.22, for a total value of $11,155,757.18. Following the completion of the sale, the insider now directly owns 865,216 shares in the company, valued at approximately $18,359,883.52. The disclosure for this sale can be found here. Insiders sold a total of 1,273,642 shares of company stock worth $27,185,474 in the last three months. Company insiders own 0.62% of the company’s stock.

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About HP

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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