HP Inc. (NYSE:HPQ) Shares Acquired by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc increased its position in shares of HP Inc. (NYSE:HPQ) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,265 shares of the computer maker’s stock after purchasing an additional 319 shares during the period. Pinnacle Financial Partners Inc’s holdings in HP were worth $400,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HPQ. State Street Corp boosted its position in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC lifted its stake in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV boosted its holdings in HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in HP in the fourth quarter valued at approximately $65,260,000. Finally, Pacer Advisors Inc. raised its holdings in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Price Performance

HP stock opened at $34.63 on Monday. The business has a 50 day simple moving average of $33.10 and a 200-day simple moving average of $34.86. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The stock has a market capitalization of $32.48 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is presently 40.93%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HPQ. TD Cowen upped their target price on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. decreased their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Barclays boosted their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, HP has a consensus rating of “Hold” and a consensus target price of $36.68.

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.