HP Inc. (NYSE:HPQ) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its holdings in HP Inc. (NYSE:HPQ) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,209 shares of the computer maker’s stock after selling 533 shares during the quarter. Fulton Bank N.A.’s holdings in HP were worth $4,934,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in HPQ. State Street Corp grew its stake in 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 lifted its holdings 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 valued at $885,877,000 after purchasing an additional 2,477,977 shares in the last quarter. DME Capital Management LP grew its position in shares of HP by 108.7% in 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. increased its stake in shares of HP by 11.4% during the 3rd 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 in the last quarter. Finally, Primecap Management Co. CA raised its position in shares of HP by 6.2% during the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on HPQ. Barclays raised their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. TD Cowen raised their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a report on Wednesday, November 27th. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, HP presently has an average rating of “Hold” and a consensus target price of $36.23.

Insider Activity

In other HP news, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 6,277 shares in the company, valued at $204,002.50. This represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,035 shares of company stock worth $9,670,068. Insiders own 0.41% of the company’s stock.

HP Stock Performance

Shares of NYSE:HPQ traded down $0.37 on Wednesday, hitting $33.30. The company’s stock had a trading volume of 1,268,941 shares, compared to its average volume of 4,875,623. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The stock’s 50-day moving average is $35.36 and its two-hundred day moving average is $35.48. The company has a market capitalization of $31.23 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05.

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

HP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a $0.2894 dividend. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 annualized dividend and a dividend yield of 3.48%. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio is currently 40.93%.

HP 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.