Fulton Bank N.A. increased its stake in shares of HP Inc. (NYSE:HPQ – Get Rating) by 13.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,154 shares of the computer maker’s stock after acquiring an additional 16,975 shares during the period. Fulton Bank N.A.’s holdings in HP were worth $3,819,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GHP Investment Advisors Inc. purchased a new position in HP during the second quarter worth approximately $26,000. Old North State Trust LLC acquired a new stake in shares of HP in the third quarter valued at $26,000. Certified Advisory Corp acquired a new stake in shares of HP in the first quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in HP during the 3rd quarter worth $27,000. Finally, Exchange Traded Concepts LLC grew its stake in HP by 665.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,072 shares of the computer maker’s stock worth $27,000 after purchasing an additional 932 shares in the last quarter. 79.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on HPQ. Credit Suisse Group downgraded HP from an “outperform” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Friday, November 18th. TheStreet cut HP from a “b-” rating to a “c+” rating in a research report on Tuesday, February 28th. StockNews.com started coverage on HP in a research report on Thursday. They set a “hold” rating on the stock. Citigroup dropped their target price on HP from $33.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, November 18th. Finally, Morgan Stanley boosted their target price on HP from $24.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 21st. Four equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.40.
Insider Buying and Selling
In related news, insider David P. Mcquarrie sold 20,609 shares of the stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $26.64, for a total value of $549,023.76. Following the transaction, the insider now directly owns 4,551 shares of the company’s stock, valued at approximately $121,238.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider David P. Mcquarrie sold 20,609 shares of the stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $26.64, for a total value of $549,023.76. Following the transaction, the insider now directly owns 4,551 shares of the company’s stock, valued at approximately $121,238.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Marie Myers sold 7,380 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $27.00, for a total value of $199,260.00. Following the completion of the transaction, the chief financial officer now directly owns 27,316 shares in the company, valued at $737,532. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,749 shares of company stock valued at $2,105,460. 0.32% of the stock is currently owned by company insiders.
HP Stock Up 0.5 %
Shares of HP stock opened at $27.96 on Thursday. HP Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $41.47. The firm has a market cap of $27.55 billion, a PE ratio of 11.14, a P/E/G ratio of 3.04 and a beta of 1.01. The business’s fifty day moving average is $28.91 and its two-hundred day moving average is $28.01.
HP (NYSE:HPQ – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. HP had a negative return on equity of 141.20% and a net margin of 4.36%. The company had revenue of $13.83 billion for the quarter, compared to analyst estimates of $14.17 billion. During the same quarter in the prior year, the company posted $1.10 EPS. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year. Equities research analysts anticipate that HP Inc. will post 3.29 EPS for the current year.
HP Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Investors of record on Wednesday, March 8th will be given a $0.2625 dividend. This represents a $1.05 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Tuesday, March 7th. HP’s dividend payout ratio (DPR) is currently 41.83%.
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.