Brandywine Global Investment Management LLC Sells 35,630 Shares of HP Inc. (NYSE:HPQ)

Brandywine Global Investment Management LLC decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 4.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 776,236 shares of the computer maker’s stock after selling 35,630 shares during the period. Brandywine Global Investment Management LLC owned 0.08% of HP worth $21,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. West Paces Advisors Inc. increased its stake in shares of HP by 3.2% during the fourth quarter. West Paces Advisors Inc. now owns 9,636 shares of the computer maker’s stock valued at $314,000 after purchasing an additional 298 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in shares of HP by 0.8% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 45,729 shares of the computer maker’s stock valued at $1,492,000 after purchasing an additional 384 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of HP by 2.1% during the first quarter. Bleakley Financial Group LLC now owns 20,262 shares of the computer maker’s stock valued at $561,000 after purchasing an additional 411 shares in the last quarter. Rehmann Capital Advisory Group increased its stake in shares of HP by 3.9% during the fourth quarter. Rehmann Capital Advisory Group now owns 11,383 shares of the computer maker’s stock valued at $371,000 after purchasing an additional 428 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in shares of HP by 13.3% during the first quarter. Private Trust Co. NA now owns 3,684 shares of the computer maker’s stock valued at $102,000 after purchasing an additional 433 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Morgan Stanley cut their price target on shares of HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, May 29th. Wells Fargo & Company cut their price target on shares of HP from $35.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, May 29th. Barclays set a $28.00 price target on shares of HP and gave the company an “equal weight” rating in a report on Thursday, May 29th. Finally, Bank of America cut their price target on shares of HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.54.

HP Trading Down 0.7%

Shares of HPQ stock opened at $26.75 on Friday. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The firm’s 50 day moving average is $25.20 and its 200 day moving average is $27.18. The stock has a market capitalization of $25.13 billion, a P/E ratio of 10.33, a P/E/G ratio of 2.18 and a beta of 1.29.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.09). HP had a negative return on equity of 244.99% and a net margin of 4.64%. The company had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio (DPR) is currently 44.79%.

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.