Shell Asset Management Co. Sells 594 Shares of HP Inc. (NYSE:HPQ)

Shell Asset Management Co. lowered its holdings in HP Inc. (NYSE:HPQ) by 1.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,646 shares of the computer maker’s stock after selling 594 shares during the quarter. Shell Asset Management Co.’s holdings in HP were worth $1,914,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in HP in the 4th quarter valued at approximately $26,000. Stonebridge Financial Group LLC acquired a new stake in HP in the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in HP in the 4th quarter valued at approximately $36,000. OFI Invest Asset Management acquired a new stake in HP in the 4th quarter valued at approximately $37,000. Finally, CoreCap Advisors LLC grew its holdings in HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker’s stock valued at $46,000 after buying an additional 587 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Price Performance

HP stock opened at $29.34 on Friday. The company has a market capitalization of $27.65 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The business has a 50 day simple moving average of $26.14 and a 200 day simple moving average of $31.31.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion during 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%. Equities analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be given a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $1.16 annualized dividend and a yield of 3.95%. HP’s payout ratio is 41.37%.

Insider Buying and Selling at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on HP from $40.00 to $29.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Barclays lifted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. StockNews.com raised HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. TD Cowen decreased their price objective on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Finally, Morgan Stanley decreased their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, HP presently has an average rating of “Hold” and a consensus price target of $34.17.

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.