CANADA LIFE ASSURANCE Co Reduces Holdings in HP Inc. (NYSE:HPQ)

CANADA LIFE ASSURANCE Co reduced its holdings in shares of HP Inc. (NYSE:HPQ) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,743,007 shares of the computer maker’s stock after selling 16,692 shares during the quarter. CANADA LIFE ASSURANCE Co owned approximately 0.18% of HP worth $52,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HPQ. Wellington Management Group LLP increased its holdings in HP by 13.6% during the 3rd quarter. Wellington Management Group LLP now owns 126,205 shares of the computer maker’s stock valued at $3,243,000 after acquiring an additional 15,143 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of HP during the fourth quarter worth about $74,000. Whittier Trust Co. grew its holdings in shares of HP by 1.4% during the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock worth $778,000 after buying an additional 362 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of HP by 16.7% during the fourth quarter. Brookstone Capital Management now owns 17,159 shares of the computer maker’s stock worth $516,000 after buying an additional 2,456 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of HP during the fourth quarter worth about $202,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HP

In other news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

HP Price Performance

HPQ stock traded up $0.11 during midday trading on Wednesday, reaching $37.82. 6,245,370 shares of the company’s stock traded hands, compared to its average volume of 8,005,009. The company has a market capitalization of $37.01 billion, a P/E ratio of 12.78, a PEG ratio of 2.42 and a beta of 1.09. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $39.52. The business has a 50-day moving average price of $35.47 and a two-hundred day moving average price of $31.39.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. HP’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 earnings per share. As a group, research analysts forecast that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. The ex-dividend date of this dividend is Wednesday, September 11th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.91%. HP’s payout ratio is currently 37.16%.

Wall Street Analyst Weigh In

HPQ has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. TD Cowen boosted their target price on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their target price on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Finally, Bank of America boosted their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.64.

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.