PNC Financial Services Group Inc. lessened its holdings in HP Inc. (NYSE:HPQ) by 2.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 565,936 shares of the computer maker’s stock after selling 13,226 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HP were worth $9,825,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc RI grew its holdings in HP by 109.6% in the fourth quarter. Citizens Financial Group Inc RI now owns 1,314 shares of the computer maker’s stock worth $27,000 after purchasing an additional 687 shares during the period. WASHINGTON TRUST Co purchased a new stake in HP in the first quarter worth about $27,000. Manchester Capital Management LLC purchased a new stake in HP in the fourth quarter worth about $30,000. Benjamin F. Edwards & Company Inc. grew its holdings in HP by 112.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,746 shares of the computer maker’s stock worth $36,000 after purchasing an additional 925 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new stake in HP in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 78.27% of the company’s stock.
Several brokerages have recently issued reports on HPQ. Argus upgraded shares of HP from a “hold” rating to a “buy” rating in a research note on Tuesday, March 31st. Barclays reiterated a “hold” rating and issued a $19.00 target price on shares of HP in a research note on Thursday, February 20th. Goldman Sachs Group began coverage on shares of HP in a research note on Friday, April 17th. They issued a “sell” rating and a $11.00 target price on the stock. Evercore ISI reiterated a “buy” rating and issued a $26.00 target price on shares of HP in a research note on Tuesday, February 25th. Finally, Longbow Research dropped their target price on shares of HP from $24.00 to $20.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.33.
In other HP news, insider Tracy S. Keogh sold 121,763 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $23.00, for a total transaction of $2,800,549.00. Following the sale, the insider now owns 448,175 shares of the company’s stock, valued at approximately $10,308,025. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by insiders.
Shares of HP stock opened at $17.00 on Friday. The firm’s 50 day moving average price is $15.29 and its 200-day moving average price is $18.97. HP Inc. has a 52-week low of $12.54 and a 52-week high of $23.93. The company has a market cap of $24.56 billion, a P/E ratio of 8.46, a PEG ratio of 3.66 and a beta of 1.01.
HP (NYSE:HPQ) last issued its quarterly earnings data on Monday, February 24th. The computer maker reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. HP had a net margin of 5.16% and a negative return on equity of 261.23%. The firm had revenue of $14.62 billion for the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts expect that HP Inc. will post 2.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 10th will be given a dividend of $0.1762 per share. This represents a $0.70 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Tuesday, June 9th. HP’s dividend payout ratio is presently 31.25%.
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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