HP Inc. (NYSE:HPQ) Shares Acquired by Whittier Trust Co.

Whittier Trust Co. boosted its stake in shares of HP Inc. (NYSE:HPQ) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,776 shares of the computer maker’s stock after purchasing an additional 402 shares during the quarter. Whittier Trust Co.’s holdings in HP were worth $903,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HPQ. Sawyer & Company Inc boosted its holdings in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares during the period. Rise Advisors LLC lifted its position in HP by 377.9% in the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in HP during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP in the 2nd quarter worth about $34,000. Finally, Sunbelt Securities Inc. boosted its position in shares of HP by 136.8% during the first quarter. Sunbelt Securities Inc. now owns 1,769 shares of the computer maker’s stock worth $53,000 after buying an additional 1,022 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

NYSE HPQ opened at $35.46 on Friday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The business’s fifty day moving average is $35.49 and its two-hundred day moving average is $32.36. The stock has a market capitalization of $34.70 billion, a P/E ratio of 11.98, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period last year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts forecast that HP Inc. will post 3.45 earnings per share for the current year.

HP Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is currently 37.16%.

Analysts Set New Price Targets

Several research firms recently commented on HPQ. Wells Fargo & Company raised their target price on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. TD Cowen lifted their price objective on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Bank of America raised their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, Barclays reduced their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.09.

Insider Activity

In other news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

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.