Fiduciary Trust Co Buys 1,750 Shares of HP Inc. (NYSE:HPQ)

Fiduciary Trust Co increased its stake in shares of HP Inc. (NYSE:HPQ) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,291 shares of the computer maker’s stock after buying an additional 1,750 shares during the period. Fiduciary Trust Co’s holdings in HP were worth $1,696,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. LVW Advisors LLC increased its stake in shares of HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC grew its holdings in HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc increased its position in HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after buying an additional 297 shares during the period. King Luther Capital Management Corp increased its position in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock worth $346,000 after buying an additional 303 shares during the period. Finally, Arvest Investments Inc. boosted its position in shares of HP by 0.9% in the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

HPQ has been the subject of a number of analyst reports. TD Cowen lifted their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday. HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $38.00 in a research report on Friday. Barclays raised their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.77.

HP Trading Up 2.2 %

Shares of HP stock opened at $35.43 on Friday. The company has a market cap of $34.14 billion, a P/E ratio of 12.61, a PEG ratio of 2.40 and a beta of 1.07. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The business has a 50-day moving average price of $36.57 and a two-hundred day moving average price of $35.56.

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

HP declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

HP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.27%. This is a positive change from HP’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. HP’s payout ratio is presently 40.93%.

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.