First American Bank Reduces Holdings in HP Inc. (NYSE:HPQ)

First American Bank lowered its position in HP Inc. (NYSE:HPQ) by 0.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 46,842 shares of the computer maker’s stock after selling 353 shares during the quarter. First American Bank’s holdings in HP were worth $1,528,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Argyle Capital Management LLC increased its stake in shares of HP by 21.8% in the fourth quarter. Argyle Capital Management LLC now owns 38,575 shares of the computer maker’s stock worth $1,259,000 after purchasing an additional 6,900 shares in the last quarter. Linscomb Wealth Inc. bought a new position in HP in the 4th quarter worth approximately $203,000. QRG Capital Management Inc. grew its stake in HP by 1.4% in the 4th quarter. QRG Capital Management Inc. now owns 101,396 shares of the computer maker’s stock valued at $3,309,000 after buying an additional 1,368 shares in the last quarter. Versor Investments LP raised its holdings in HP by 44.5% during the 4th quarter. Versor Investments LP now owns 47,100 shares of the computer maker’s stock valued at $1,537,000 after acquiring an additional 14,500 shares during the period. Finally, First Command Advisory Services Inc. lifted its position in shares of HP by 32.7% during the fourth quarter. First Command Advisory Services Inc. now owns 2,565 shares of the computer maker’s stock worth $84,000 after acquiring an additional 632 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

HP stock opened at $33.15 on Friday. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.79. The firm’s fifty day moving average price is $33.15 and its 200-day moving average price is $34.86. The stock has a market cap of $31.08 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.49%. HP’s payout ratio is 40.93%.

Insider Activity

In other news, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. This represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,737 shares of company stock valued at $9,316,641. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HPQ. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Wells Fargo & Company lifted their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price objective for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, Citigroup decreased their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, HP has an average rating of “Hold” and an average target price of $36.68.

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.