Everence Capital Management Inc. Has $1.23 Million Position in HP Inc. (NYSE:HPQ)

Everence Capital Management Inc. cut its stake in shares of HP Inc. (NYSE:HPQ) by 23.7% in the fourth quarter, Holdings Channel reports. The fund owned 40,700 shares of the computer maker’s stock after selling 12,670 shares during the period. Everence Capital Management Inc.’s holdings in HP were worth $1,225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System lifted its holdings in shares of HP by 3.9% during the third quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker’s stock valued at $76,229,000 after acquiring an additional 112,427 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of HP by 23.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker’s stock valued at $545,000 after acquiring an additional 4,054 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of HP by 8.8% during the third quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock valued at $1,608,000 after acquiring an additional 5,064 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of HP by 87.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after acquiring an additional 358,231 shares during the period. Finally, CHURCHILL MANAGEMENT Corp bought a new position in shares of HP during the fourth quarter valued at $1,758,000. 77.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HPQ. HSBC raised HP from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $33.00 in a report on Wednesday, February 14th. StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Barclays lifted their price target on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.11.

HP Stock Down 0.6 %

Shares of HPQ stock opened at $27.79 on Wednesday. The stock has a 50-day moving average price of $29.37 and a 200 day moving average price of $28.78. The firm has a market cap of $27.25 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 2.34 and a beta of 1.05. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.75 earnings per share. Sell-side analysts predict that HP Inc. will post 3.42 earnings per share for the current fiscal year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $0.2756 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $1.10 annualized dividend and a dividend yield of 3.97%. HP’s payout ratio is currently 32.16%.

Insider Transactions at HP

In other news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the sale, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is currently owned by company insiders.

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.