US Bancorp DE Reduces Holdings in HP Inc. (NYSE:HPQ)

US Bancorp DE cut its stake in shares of HP Inc. (NYSE:HPQ – Get Rating) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 313,733 shares of the computer maker’s stock after selling 7,374 shares during the quarter. US Bancorp DE’s holdings in HP were worth $7,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in HP by 11.7% in the 3rd quarter. Van ECK Associates Corp now owns 31,028 shares of the computer maker’s stock worth $773,000 after buying an additional 3,259 shares during the period. CWM LLC lifted its holdings in HP by 4.8% in the 3rd quarter. CWM LLC now owns 14,731 shares of the computer maker’s stock worth $367,000 after buying an additional 668 shares during the period. Assenagon Asset Management S.A. lifted its holdings in HP by 162.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 35,129 shares of the computer maker’s stock worth $875,000 after buying an additional 21,749 shares during the period. Handelsbanken Fonder AB lifted its holdings in HP by 1.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 353,797 shares of the computer maker’s stock worth $8,817,000 after buying an additional 5,815 shares during the period. Finally, BlackDiamond Wealth Management Inc. lifted its holdings in HP by 4.1% in the 3rd quarter. BlackDiamond Wealth Management Inc. now owns 13,946 shares of the computer maker’s stock worth $385,000 after buying an additional 547 shares during the period. 79.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Cfra set a $31.00 price objective on HP in a report on Thursday, November 24th. StockNews.com started coverage on HP in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. UBS Group set a $30.00 target price on HP in a research report on Thursday, November 24th. Barclays decreased their target price on HP from $27.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, November 23rd. Finally, Morgan Stanley decreased their target price on HP from $28.00 to $24.00 and set an “underweight” rating for the company in a research report on Monday, October 17th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.60.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $27.13, for a total value of $922,420.00. Following the completion of the sale, the chief executive officer now owns 804,268 shares of the company’s stock, valued at approximately $21,819,790.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Marie Myers sold 7,380 shares of the firm’s 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 transaction, the chief financial officer now directly owns 27,316 shares in the company, valued at approximately $737,532. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $27.13, for a total value of $922,420.00. Following the completion of the transaction, the chief executive officer now owns 804,268 shares in the company, valued at $21,819,790.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 248,322 shares of company stock valued at $7,157,022. Corporate insiders own 0.22% of the company’s stock.

HP Stock Down 0.9 %

HPQ stock opened at $28.83 on Thursday. HP Inc. has a twelve month low of $24.08 and a twelve month high of $41.47. The firm has a market cap of $28.32 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. The business has a 50 day moving average of $28.36 and a 200 day moving average of $29.27.

HP (NYSE:HPQ – Get Rating) last posted its earnings results on Tuesday, November 22nd. The computer maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.68 billion. HP had a negative return on equity of 181.32% and a net margin of 5.09%. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. On average, research analysts expect that HP Inc. will post 3.35 earnings per share for the current fiscal year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be issued a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.64%. HP’s payout ratio is 34.88%.

HP Profile

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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.