American Trust Sells 458 Shares of HP Inc. (NYSE:HPQ)

American Trust trimmed its position in shares of HP Inc. (NYSE:HPQ – Get Rating) by 4.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,898 shares of the computer maker’s stock after selling 458 shares during the period. American Trust’s holdings in HP were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HPQ. GHP Investment Advisors Inc. bought a new stake in HP during the second quarter valued at about $26,000. Old North State Trust LLC bought a new stake in HP during the third quarter valued at about $26,000. Certified Advisory Corp bought a new stake in shares of HP in the first quarter valued at about $26,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of HP in the third quarter valued at about $27,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of HP by 665.7% in the third quarter. Exchange Traded Concepts LLC now owns 1,072 shares of the computer maker’s stock valued at $27,000 after buying an additional 932 shares during the period. 79.68% of the stock is currently owned by institutional investors.

HP Trading Down 1.0 %

NYSE HPQ opened at $28.04 on Friday. The firm has a market cap of $27.63 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 3.09 and a beta of 1.01. The company has a 50 day moving average of $28.92 and a 200-day moving average of $27.98. HP Inc. has a 1-year low of $24.08 and a 1-year high of $41.47.

HP (NYSE:HPQ – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $13.83 billion during the quarter, compared to analyst estimates of $14.17 billion. HP had a net margin of 4.36% and a negative return on equity of 141.20%. The company’s revenue was down 18.8% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. On average, analysts forecast that HP Inc. will post 3.29 earnings per share for the current year.

HP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 8th will be issued a dividend of $0.2625 per share. This represents a $1.05 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Tuesday, March 7th. HP’s payout ratio is 41.83%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Credit Suisse Group cut shares of HP from an “outperform” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Friday, November 18th. Citigroup reduced their target price on shares of HP from $33.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, November 18th. Morgan Stanley increased their target price on shares of HP from $24.00 to $28.00 and gave the company an “underweight” rating in a research note on Tuesday, February 21st. Sanford C. Bernstein reduced their target price on shares of HP from $30.00 to $29.00 in a research note on Monday, January 9th. Finally, UBS Group set a $30.00 price target on shares of HP in a research report on Thursday, November 24th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.40.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $27.13, for a total transaction 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 $21,819,790.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Enrique Lores sold 34,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were 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 $21,819,790.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marie Myers sold 7,380 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $27.00, for a total transaction of $199,260.00. Following the completion of the sale, the chief financial officer now directly owns 27,316 shares of the company’s stock, valued at approximately $737,532. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,749 shares of company stock valued at $2,105,460. Corporate insiders own 0.32% of the company’s stock.

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.