Hilltop National Bank Sells 1,719 Shares of HP Inc. (NYSE:HPQ)

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

Several other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in shares of HP by 16.1% in the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after purchasing an additional 160,268 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of HP by 47.5% during the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock worth $5,259,000 after acquiring an additional 47,230 shares during the period. MML Investors Services LLC boosted its holdings in shares of HP by 35.0% in the 3rd quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares in the last quarter. Franklin Resources Inc. grew its position in HP by 25.2% in the third quarter. Franklin Resources Inc. now owns 1,007,270 shares of the computer maker’s stock valued at $37,712,000 after acquiring an additional 202,613 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in HP during the 2nd quarter worth approximately $621,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Down 1.0 %

HPQ traded down $0.32 during midday trading on Friday, hitting $33.13. 1,069,528 shares of the company traded hands, compared to its average volume of 4,842,872. The company’s 50-day moving average is $35.26 and its 200 day moving average is $35.45. The firm has a market capitalization of $31.07 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

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

HP Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a $0.2894 dividend. This is an increase 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 yield of 3.49%. HP’s dividend payout ratio is currently 40.93%.

Insider Buying and Selling at HP

In related news, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $34.43, for a total transaction of $2,560,077.08. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock worth $9,670,068 in the last three months. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HPQ shares. Barclays upped their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Citigroup dropped their target price 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. TD Cowen increased their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. JPMorgan Chase & Co. cut their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.23.

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.