Greenleaf Trust Decreases Stake in HP Inc. (NYSE:HPQ)

Greenleaf Trust cut its holdings in shares of HP Inc. (NYSE:HPQFree Report) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,633 shares of the computer maker’s stock after selling 1,113 shares during the quarter. Greenleaf Trust’s holdings in HP were worth $941,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Andra AP fonden raised its stake in HP by 28.6% during the third quarter. Andra AP fonden now owns 403,000 shares of the computer maker’s stock worth $10,357,000 after purchasing an additional 89,600 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in HP by 15.4% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 174,455 shares of the computer maker’s stock worth $4,483,000 after purchasing an additional 23,264 shares during the period. Canada Pension Plan Investment Board raised its stake in HP by 2,231.5% during the third quarter. Canada Pension Plan Investment Board now owns 111,610 shares of the computer maker’s stock worth $2,868,000 after purchasing an additional 106,823 shares during the period. Campbell & CO Investment Adviser LLC raised its stake in HP by 422.6% during the third quarter. Campbell & CO Investment Adviser LLC now owns 290,404 shares of the computer maker’s stock worth $7,463,000 after purchasing an additional 234,840 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in HP during the third quarter worth about $37,000. 76.04% of the stock is owned by hedge funds and other institutional investors.

HP Price Performance

Shares of NYSE:HPQ opened at $28.69 on Tuesday. The stock has a market cap of $28.43 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.35 and a beta of 1.04. The firm has a fifty day moving average price of $29.58 and a 200 day moving average price of $28.96. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90.

HP (NYSE:HPQGet Free Report) last issued its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.90 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.90. HP had a net margin of 6.13% and a negative return on equity of 138.83%. The firm had revenue of $13.82 billion during the quarter, compared to analysts’ expectations of $13.79 billion. During the same quarter in the prior year, the business earned $0.85 EPS. HP’s quarterly revenue was down 6.5% compared to the same quarter last year. Sell-side analysts expect that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th will be paid a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Tuesday, March 12th. HP’s dividend payout ratio (DPR) is presently 33.43%.

Insider Activity at HP

In related news, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total value of $1,130,500.00. Following the completion of the sale, the chief executive officer now owns 888,911 shares in the company, valued at $26,445,102.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HP news, insider Alex Cho sold 45,758 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $29.24, for a total transaction of $1,337,963.92. Following the completion of the transaction, the insider now directly owns 22,003 shares in the company, valued at approximately $643,367.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $29.75, for a total transaction of $1,130,500.00. Following the transaction, the chief executive officer now owns 888,911 shares of the company’s stock, valued at $26,445,102.25. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HPQ. StockNews.com raised shares of HP from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 19th. Citigroup upgraded shares of HP from a “neutral” rating to a “buy” rating and increased their target price for the stock from $31.00 to $33.00 in a report on Monday, November 13th. Evercore ISI upgraded shares of HP from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $33.00 to $40.00 in a report on Monday, December 11th. Edward Jones upgraded shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Morgan Stanley raised shares of HP from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $35.00 in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.22.

Read Our Latest Analysis on HP

HP Profile

(Free Report)

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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