Blue Trust Inc. Increases Position in HP Inc. (NYSE:HPQ)

Blue Trust Inc. increased its position in HP Inc. (NYSE:HPQ) by 24.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,186 shares of the computer maker’s stock after buying an additional 2,606 shares during the period. Blue Trust Inc.’s holdings in HP were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP in the third quarter worth about $25,000. Wolff Wiese Magana LLC raised its position in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the last quarter. ORG Wealth Partners LLC acquired a new stake in HP during the 3rd quarter valued at approximately $37,000. Itau Unibanco Holding S.A. purchased a new stake in shares of HP in the 3rd quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of HP in the third quarter worth $44,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Down 0.9 %

NYSE:HPQ opened at $32.51 on Friday. The firm has a market cap of $30.48 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The stock has a 50 day moving average of $34.03 and a two-hundred day moving average of $35.18. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79.

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

HP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 dividend on an annualized basis and a yield of 3.56%. HP’s payout ratio is 41.28%.

Wall Street Analyst Weigh In

HPQ has been the topic of several analyst reports. Barclays increased their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reduced their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Sanford C. Bernstein raised their price objective on shares of HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Citigroup decreased their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Finally, TD Cowen lifted their price objective on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.23.

Insider Activity

In related news, insider Stephanie Liebman sold 11,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alex Cho sold 10,298 shares of the business’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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by 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.