First American Bank Sells 353 Shares of HP Inc. (NYSE:HPQ)

First American Bank cut its holdings in HP Inc. (NYSE:HPQ) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,842 shares of the computer maker’s stock after selling 353 shares during the quarter. First American Bank’s holdings in HP were worth $1,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares during the period. Geode Capital Management LLC raised its holdings in shares of HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after acquiring an additional 2,477,977 shares in the last quarter. Pacer Advisors Inc. lifted its stake in HP by 4.2% in the fourth quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock worth $482,164,000 after acquiring an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in HP by 7.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after acquiring an additional 612,675 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in HP by 11.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock valued at $241,876,000 after purchasing an additional 678,985 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction 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 owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The stock was 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 of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,737 shares of company stock worth $9,316,641 over the last three months. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

NYSE:HPQ opened at $33.15 on Friday. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The business has a fifty day moving average price of $33.15 and a 200-day moving average price of $34.86. The firm has a market capitalization of $31.08 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05.

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

HP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HPQ. TD Cowen raised their target price on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lowered 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. Citigroup reduced their target price on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Finally, HSBC downgraded HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, HP presently has a consensus rating of “Hold” and a consensus target price of $36.68.

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.