First National Trust Co Acquires 28,097 Shares of HP Inc. (NYSE:HPQ)

First National Trust Co raised its stake in shares of HP Inc. (NYSE:HPQ) by 266.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,655 shares of the computer maker’s stock after purchasing an additional 28,097 shares during the quarter. First National Trust Co’s holdings in HP were worth $1,261,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Amundi increased its position in shares of HP by 15.9% during the fourth quarter. Amundi now owns 6,561,399 shares of the computer maker’s stock valued at $217,319,000 after buying an additional 899,349 shares during the period. Principal Financial Group Inc. grew its holdings in shares of HP by 16.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after acquiring an additional 160,268 shares during the period. Oak Thistle LLC raised its position in shares of HP by 169.3% in the 4th quarter. Oak Thistle LLC now owns 34,682 shares of the computer maker’s stock worth $1,132,000 after acquiring an additional 21,805 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of HP by 47.5% in the 3rd quarter. Tidal Investments LLC now owns 146,608 shares of the computer maker’s stock valued at $5,259,000 after purchasing an additional 47,230 shares during the period. Finally, MML Investors Services LLC boosted its position in shares of HP by 35.0% during the third quarter. MML Investors Services LLC now owns 62,523 shares of the computer maker’s stock valued at $2,243,000 after purchasing an additional 16,207 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of HP 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 transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is currently owned by company insiders.

HP Trading Up 1.8 %

Shares of HPQ stock opened at $28.43 on Friday. HP Inc. has a 12-month low of $27.43 and a 12-month high of $39.80. The stock has a market capitalization of $26.80 billion, a P/E ratio of 10.12, a P/E/G ratio of 2.96 and a beta of 1.09. The firm’s 50 day moving average is $32.36 and its 200 day moving average is $34.42.

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

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is 41.37%.

Analysts Set New Price Targets

Several brokerages have commented on HPQ. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Sanford C. Bernstein raised their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Wells Fargo & Company upped their price target on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. Barclays raised their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, HP has a consensus rating of “Hold” and an average price target of $36.14.

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.