Fifth Third Bancorp Increases Stock Holdings in HP Inc. (NYSE:HPQ)

Fifth Third Bancorp increased its stake in HP Inc. (NYSE:HPQ) by 3.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,035 shares of the computer maker’s stock after acquiring an additional 1,035 shares during the quarter. Fifth Third Bancorp’s holdings in HP were worth $1,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC purchased a new stake in shares of HP during the third quarter worth about $25,000. Wolff Wiese Magana LLC boosted its holdings in HP by 115.1% in 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 purchased a new stake in HP during the 3rd quarter worth approximately $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the third quarter valued at approximately $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of HP in the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Stock Down 1.8 %

HPQ stock opened at $32.74 on Wednesday. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of 11.65, a price-to-earnings-growth ratio of 2.83 and a beta of 1.05. The business has a fifty day moving average of $34.30 and a two-hundred day moving average of $35.25.

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

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.54%. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is presently 41.28%.

Analysts Set New Price Targets

HPQ has been the subject of several research reports. Sanford C. Bernstein boosted their price target on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. Citigroup decreased their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, HSBC lowered shares of HP from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. 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 stock. According to MarketBeat.com, HP has an average rating of “Hold” and a consensus price target of $36.23.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value 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 represents a 60.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

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.