Hilltop National Bank Lowers Holdings in HP Inc. (NYSE:HPQ)

Hilltop National Bank lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,745 shares of the computer maker’s stock after selling 1,719 shares during the quarter. Hilltop National Bank’s holdings in HP were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its holdings in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC grew its position in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. DME Capital Management LP increased its holdings in shares of HP by 108.7% in the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after purchasing an additional 1,757,070 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after buying an additional 1,319,731 shares during the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction dated 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 directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of HP stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,035 shares of company stock valued at $9,670,068 over the last quarter. 0.41% of the stock is owned by corporate insiders.

HP Trading Down 1.0 %

Shares of NYSE HPQ traded down $0.32 during midday trading on Friday, hitting $33.13. The company’s stock had a trading volume of 1,069,528 shares, compared to its average volume of 4,842,872. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.79. The firm has a market cap of $31.07 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05. The business’s 50 day moving average is $35.26 and its two-hundred day moving average is $35.45.

HP (NYSE:HPQ) last released its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 earnings per share. On average, analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a $0.2894 dividend. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.49%. HP’s payout ratio is presently 40.93%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Sanford C. Bernstein increased their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their target price 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. Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and reduced their price objective 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.23.

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.