United Community Bank Grows Holdings in HP Inc. (NYSE:HPQ)

United Community Bank increased its position in shares of HP Inc. (NYSE:HPQ) by 674.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,411 shares of the computer maker’s stock after buying an additional 50,000 shares during the period. United Community Bank’s holdings in HP were worth $1,873,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp increased its stake in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the period. Arvest Investments Inc. grew its holdings in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after acquiring an additional 310 shares in the last quarter. Auxano Advisors LLC grew its holdings in HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after acquiring an additional 310 shares in the last quarter. Wedmont Private Capital grew its holdings in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock worth $420,000 after acquiring an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its holdings in HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after acquiring an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

NYSE HPQ opened at $30.56 on Friday. The company’s 50 day simple moving average is $32.76 and its 200 day simple moving average is $34.65. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The company has a market capitalization of $28.80 billion, a P/E ratio of 10.87, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is currently 41.37%.

Analyst Ratings Changes

Several research analysts have weighed in on HPQ shares. JPMorgan Chase & Co. decreased their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Barclays raised their price objective on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their price target for the company from $39.00 to $38.00 in a report on Friday, November 29th. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.14.

Insider Transactions at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s 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 transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the business’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 directly owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 262,737 shares of company stock valued at $9,316,641 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

HP 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.