Truist Financial Corp Reduces Stock Position in HP Inc. (NYSE:HPQ)

Truist Financial Corp cut its stake in HP Inc. (NYSE:HPQ) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,966 shares of the computer maker’s stock after selling 3,963 shares during the quarter. Truist Financial Corp’s holdings in HP were worth $5,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of HP by 6.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 90,200 shares of the computer maker’s stock worth $2,318,000 after buying an additional 5,750 shares in the last quarter. Raymond James & Associates boosted its holdings in HP by 18.7% in the 3rd quarter. Raymond James & Associates now owns 227,556 shares of the computer maker’s stock valued at $5,848,000 after purchasing an additional 35,800 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of HP by 116.9% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 25,213 shares of the computer maker’s stock valued at $648,000 after purchasing an additional 13,591 shares in the last quarter. Bailard Inc. increased its holdings in shares of HP by 40.1% in the third quarter. Bailard Inc. now owns 17,860 shares of the computer maker’s stock worth $459,000 after purchasing an additional 5,109 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in shares of HP by 4.3% in the third quarter. Verdence Capital Advisors LLC now owns 32,432 shares of the computer maker’s stock worth $834,000 after buying an additional 1,327 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Activity at HP

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock worth $3,479,287 over the last 90 days. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

HPQ has been the topic of a number of research analyst reports. HSBC upgraded HP from a “hold” rating to a “buy” rating and upped their target price for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. Barclays lifted their target price on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

HP Stock Performance

Shares of HP stock opened at $28.18 on Monday. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90. The company has a fifty day moving average of $29.20 and a 200-day moving average of $28.92. The stock has a market capitalization of $27.64 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 2.36 and a beta of 1.06.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting analysts’ consensus estimates of $0.81. The company 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 firm’s revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. On average, equities research analysts forecast that HP Inc. will post 3.42 earnings per share for the current fiscal year.

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.