Cullen Frost Bankers Inc. Cuts Position in HP Inc. (NYSE:HPQ)

Cullen Frost Bankers Inc. cut its stake in HP Inc. (NYSE:HPQ) by 21.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,558 shares of the computer maker’s stock after selling 3,948 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in HP were worth $475,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of HP in the 3rd quarter valued at $25,000. Synergy Asset Management LLC purchased a new position in shares of HP in the 4th quarter valued at $26,000. Stonebridge Financial Group LLC purchased a new position in shares of HP in the 4th quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of HP in the 3rd quarter valued at $40,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of HP in the 3rd quarter valued at $44,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HPQ shares. Barclays lifted their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Loop Capital lowered their price objective on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. Sanford C. Bernstein raised their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Citigroup lowered their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Finally, Morgan Stanley lowered their price objective on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, HP presently has an average rating of “Hold” and an average target price of $36.14.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. The trade was a 60.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alex Cho sold 40,287 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total value of $1,401,987.60. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 262,737 shares of company stock valued at $9,316,641 in the last quarter. 0.38% of the stock is currently owned by company insiders.

HP Stock Performance

Shares of HPQ opened at $30.56 on Friday. The stock has a 50-day moving average of $32.76 and a two-hundred day moving average of $34.65. HP Inc. has a one year low of $27.42 and a one year high of $39.79. The stock has a market cap of $28.80 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. Analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 3.79%. HP’s dividend payout ratio (DPR) is presently 41.37%.

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.