Hickory Point Bank & Trust Buys Shares of 7,361 HP Inc. (NYSE:HPQ)

Hickory Point Bank & Trust acquired a new position in HP Inc. (NYSE:HPQ) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 7,361 shares of the computer maker’s stock, valued at approximately $240,000.

A number of other institutional investors have also made changes to their positions in the business. State Street Corp increased its stake in shares of HP by 8.2% in the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the period. Geode Capital Management LLC increased its stake in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the period. Pacer Advisors Inc. increased its stake in shares of 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 purchasing an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $307,816,000 after purchasing an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of HP by 11.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,743,122 shares of the computer maker’s stock worth $241,876,000 after purchasing an additional 678,985 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

NYSE:HPQ opened at $30.75 on Friday. The stock’s fifty day moving average price is $33.11 and its two-hundred day moving average price is $34.84. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79. The company has a market cap of $28.83 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 2.96 and a beta of 1.05.

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

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 40.93%.

Insider Buying and Selling at HP

In other HP news, insider Alex Cho sold 40,287 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. The trade was a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 137,094 shares of the company’s stock in a transaction on Monday, December 9th. The shares were 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 owns 89,272 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 262,737 shares of company stock worth $9,316,641. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HPQ shares. HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $38.00 in a research note on Friday, November 29th. JPMorgan Chase & Co. lowered their price target on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. Citigroup lowered their price target on HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research note on Wednesday, November 27th. Barclays boosted their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, HP presently has a consensus rating of “Hold” and an average price target of $36.59.

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.