HP Inc. (NYSE:HPQ) Position Lowered by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division reduced its position in HP Inc. (NYSE:HPQ) by 6.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 19,081 shares of the computer maker’s stock after selling 1,401 shares during the period. Central Pacific Bank Trust Division’s holdings in HP were worth $623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after acquiring an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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. DME Capital Management LP increased its stake in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after purchasing an additional 1,757,070 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after purchasing an additional 1,455,138 shares during the period. Finally, Primecap Management Co. CA lifted its position in shares of HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after buying an additional 1,319,731 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on HPQ. JPMorgan Chase & Co. dropped their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 20th. HSBC cut HP from a “buy” rating to a “hold” rating and dropped their price target for the stock from $39.00 to $38.00 in a research report on Friday, November 29th. Sanford C. Bernstein boosted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday. TD Cowen increased their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.23.

HP Trading Up 2.1 %

HP stock opened at $33.14 on Friday. 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 $31.08 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.95 and a beta of 1.05. The company’s 50-day moving average price is $35.58 and its two-hundred day moving average price is $35.55.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $0.90 earnings per share. Research analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a $0.2894 dividend. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.49%. HP’s dividend payout ratio is 40.93%.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were 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 owns 6,277 shares in the company, valued at approximately $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 owns 89,272 shares in the company, valued at $3,253,964.40. The trade was a 60.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 over the last 90 days. 0.41% of the stock is currently owned by corporate insiders.

About HP

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.