American Trust trimmed its position in shares of HP Inc. (NYSE:HPQ – Get Rating) by 4.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,898 shares of the computer maker’s stock after selling 458 shares during the quarter. American Trust’s holdings in HP were worth $222,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HPQ. GHP Investment Advisors Inc. bought a new position in shares of HP during the second quarter worth $26,000. Old North State Trust LLC acquired a new stake in shares of HP during the third quarter worth $26,000. Certified Advisory Corp acquired a new stake in shares of HP during the first quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of HP during the third quarter worth $27,000. Finally, Exchange Traded Concepts LLC raised its holdings in shares of HP by 665.7% during the third quarter. Exchange Traded Concepts LLC now owns 1,072 shares of the computer maker’s stock worth $27,000 after acquiring an additional 932 shares during the period. 79.68% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
HPQ has been the topic of a number of research analyst reports. TheStreet lowered shares of HP from a “b-” rating to a “c+” rating in a report on Tuesday, February 28th. Morgan Stanley raised their price objective on shares of HP from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, February 21st. Credit Suisse Group lowered shares of HP from an “outperform” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Friday, November 18th. Cfra set a $31.00 price target on shares of HP in a research note on Thursday, November 24th. Finally, Citigroup lowered their price target on shares of HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, November 18th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $29.40.
HP Price Performance
HP (NYSE:HPQ – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.17 billion. HP had a net margin of 4.36% and a negative return on equity of 141.20%. HP’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 EPS. As a group, analysts expect that HP Inc. will post 3.29 EPS for the current year.
HP Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th will be paid a dividend of $0.2625 per share. The ex-dividend date is Tuesday, March 7th. This represents a $1.05 annualized dividend and a dividend yield of 3.74%. HP’s dividend payout ratio is presently 41.83%.
Insider Transactions at HP
In other news, insider David P. Mcquarrie sold 20,609 shares of the business’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $26.64, for a total transaction of $549,023.76. Following the transaction, the insider now directly owns 4,551 shares in the company, valued at approximately $121,238.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David P. Mcquarrie sold 20,609 shares of HP stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $26.64, for a total transaction of $549,023.76. Following the completion of the sale, the insider now owns 4,551 shares of the company’s stock, valued at approximately $121,238.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marie Myers sold 7,380 shares of HP stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $27.00, for a total transaction of $199,260.00. Following the sale, the chief financial officer now directly owns 27,316 shares of the company’s stock, valued at approximately $737,532. The disclosure for this sale can be found here. Insiders have sold 76,749 shares of company stock worth $2,105,460 in the last ninety days. Insiders own 0.32% of the company’s stock.
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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