Sterling Capital Management LLC Sells 198,889 Shares of HP Inc. (NYSE:HPQ)

Sterling Capital Management LLC reduced its position in shares of HP Inc. (NYSE:HPQ) by 55.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 158,970 shares of the computer maker’s stock after selling 198,889 shares during the quarter. Sterling Capital Management LLC’s holdings in HP were worth $3,305,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. FMR LLC raised its holdings in HP by 1.6% in the 1st quarter. FMR LLC now owns 20,390,859 shares of the computer maker’s stock worth $396,194,000 after purchasing an additional 313,469 shares in the last quarter. AQR Capital Management LLC raised its holdings in HP by 44.2% in the 1st quarter. AQR Capital Management LLC now owns 18,796,913 shares of the computer maker’s stock worth $362,686,000 after purchasing an additional 5,761,703 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in HP by 2.1% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 11,469,669 shares of the computer maker’s stock worth $238,454,000 after purchasing an additional 240,758 shares in the last quarter. AJO LP raised its holdings in HP by 2.1% in the 1st quarter. AJO LP now owns 11,126,218 shares of the computer maker’s stock worth $216,182,000 after purchasing an additional 224,949 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in HP by 6.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 8,850,451 shares of the computer maker’s stock worth $184,001,000 after purchasing an additional 516,302 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.

In related news, CEO Dion J. Weisler sold 132,964 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $20.95, for a total transaction of $2,785,595.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dion J. Weisler sold 437,171 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $18.01, for a total transaction of $7,873,449.71. The disclosure for this sale can be found here. Insiders sold a total of 586,987 shares of company stock worth $11,009,736 over the last ninety days. Insiders own 0.25% of the company’s stock.

Several brokerages have commented on HPQ. ValuEngine lowered shares of HP from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Citigroup set a $20.00 price objective on shares of HP and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley decreased their price objective on shares of HP from $23.00 to $21.00 and set a “weight” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. set a $19.00 price objective on shares of HP and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Loop Capital set a $21.00 price objective on shares of HP and gave the stock a “buy” rating in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. HP currently has a consensus rating of “Hold” and a consensus target price of $21.76.

Shares of NYSE:HPQ traded up $0.20 during midday trading on Thursday, reaching $18.91. The company’s stock had a trading volume of 215,261 shares, compared to its average volume of 10,845,518. The firm has a 50 day moving average of $19.01 and a 200-day moving average of $19.75. The firm has a market capitalization of $27.96 billion, a P/E ratio of 9.37, a PEG ratio of 2.66 and a beta of 1.43. HP Inc. has a 12-month low of $17.10 and a 12-month high of $27.08.

HP (NYSE:HPQ) last released its earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $14.60 billion for the quarter, compared to the consensus estimate of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The company’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. As a group, analysts predict that HP Inc. will post 2.21 EPS for the current fiscal year.

The firm 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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Tuesday, September 10th. HP’s dividend payout ratio is presently 31.68%.

HP Company 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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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