Pitcairn Co. Raises Position in HP Inc. (NYSE:HPQ)

Pitcairn Co. increased its stake in shares of HP Inc. (NYSE:HPQ) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,471 shares of the computer maker’s stock after acquiring an additional 7,251 shares during the quarter. Pitcairn Co.’s holdings in HP were worth $3,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of HPQ. TIAA Trust National Association grew its holdings in shares of HP by 1.8% in the fourth quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock worth $548,000 after purchasing an additional 302 shares during the last quarter. HBK Sorce Advisory LLC boosted its holdings in shares of HP by 2.7% during the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock worth $374,000 after purchasing an additional 306 shares during the period. Auxano Advisors LLC lifted its holdings in HP by 3.7% in the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares during the period. Wedmont Private Capital raised its holdings in shares of HP by 2.6% during the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in HP by 2.7% in the fourth quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock worth $400,000 after acquiring an additional 319 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other HP news, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at approximately $4,814.81. This trade represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

HP Price Performance

Shares of HP stock opened at $27.91 on Thursday. HP Inc. has a 1 year low of $26.10 and a 1 year high of $39.80. The firm’s 50-day moving average is $31.17 and its 200 day moving average is $33.86. The stock has a market cap of $26.31 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. On average, equities analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend was Wednesday, March 12th. HP’s dividend payout ratio is currently 41.37%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Sanford C. Bernstein boosted their price target on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Morgan Stanley lowered their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Loop Capital reduced their price target on HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company raised their price objective on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.14.

About HP

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.