Central Pacific Bank Trust Division Reduces Holdings in HP Inc. (NYSE:HPQ)

Central Pacific Bank Trust Division lowered its stake in HP Inc. (NYSE:HPQ) by 6.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,081 shares of the computer maker’s stock after selling 1,401 shares during the quarter. Central Pacific Bank Trust Division’s holdings in HP were worth $623,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp lifted its position in shares of HP by 8.2% in the third 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 in the last quarter. Geode Capital Management LLC lifted its holdings in HP by 11.1% in the 3rd 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. Primecap Management Co. CA boosted its stake in shares of HP by 6.2% during the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of 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 buying an additional 1,455,138 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after buying an additional 1,089,848 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 2.1 %

HPQ opened at $33.14 on Friday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The company has a 50 day moving average of $35.58 and a two-hundred day moving average of $35.55. The company has a market cap of $31.08 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.95 and a beta of 1.05.

HP (NYSE:HPQ) last announced its quarterly 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. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $13.99 billion. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 EPS. Research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

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

Analysts Set New Price Targets

HPQ has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their target price 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. TD Cowen lifted their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. HSBC cut HP from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, Citigroup cut their price objective 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 analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $36.23.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $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 sold 273,035 shares of company stock valued at $9,670,068 over the last 90 days. 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.