CENTRAL TRUST Co Purchases 2,555 Shares of HP Inc. (NYSE:HPQ)

CENTRAL TRUST Co lifted its position in HP Inc. (NYSE:HPQ) by 2.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,885 shares of the computer maker’s stock after purchasing an additional 2,555 shares during the quarter. CENTRAL TRUST Co’s holdings in HP were worth $3,814,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HPQ. Marshall Wace LLP purchased a new position in shares of HP during the second quarter worth approximately $269,000. Northwestern Mutual Wealth Management Co. raised its position in HP by 9.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 41,516 shares of the computer maker’s stock worth $1,454,000 after purchasing an additional 3,722 shares during the period. Truist Financial Corp lifted its stake in HP by 4.5% in the second quarter. Truist Financial Corp now owns 176,513 shares of the computer maker’s stock worth $6,181,000 after purchasing an additional 7,678 shares during the last quarter. Cetera Investment Advisers lifted its stake in HP by 14.5% in the second quarter. Cetera Investment Advisers now owns 125,398 shares of the computer maker’s stock worth $4,391,000 after purchasing an additional 15,905 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in HP during the second quarter valued at about $3,373,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. Barclays boosted their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Sanford C. Bernstein upped their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Finally, HSBC lowered shares of HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.23.

HP Trading Down 0.9 %

Shares of HPQ opened at $32.51 on Monday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The firm has a market capitalization of $30.48 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.78 and a beta of 1.05. The firm’s 50-day moving average price is $33.92 and its 200-day moving average price is $35.13.

HP (NYSE:HPQ) last announced its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. On average, research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.56%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is currently 41.28%.

Insiders Place Their Bets

In other news, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,933,898.67. This represents a 56.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,035 shares of company stock worth $9,670,068. 0.41% of the stock is currently owned by company insiders.

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.