PNC Financial Services Group Inc. Has $12.54 Million Holdings in HP Inc. (NYSE:HPQ)

PNC Financial Services Group Inc. trimmed its position in HP Inc. (NYSE:HPQ) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,667 shares of the computer maker’s stock after selling 5,545 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HP were worth $12,538,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Rosenberg Matthew Hamilton boosted its stake in HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after purchasing an additional 397 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of HP in the fourth quarter valued at $28,000. Janiczek Wealth Management LLC boosted its position in shares of HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of HP during the fourth quarter valued at $34,000. Finally, Salem Investment Counselors Inc. raised its position in HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after buying an additional 380 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on HPQ. UBS Group raised their price objective on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Wells Fargo & Company upped their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. Barclays increased their target price on shares of HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Finally, TD Cowen boosted their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Trading Up 2.3 %

HPQ stock opened at $36.77 on Wednesday. The firm has a market cap of $35.98 billion, a PE ratio of 12.42, a PEG ratio of 2.26 and a beta of 1.11. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The company has a fifty day simple moving average of $31.49 and a 200 day simple moving average of $30.25.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. As a group, analysts forecast that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is 37.16%.

Insider Transactions at HP

In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

HP Company 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.