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

Fiduciary Trust Co raised its position in HP Inc. (NYSE:HPQ) by 3.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 47,291 shares of the computer maker’s stock after purchasing 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 SEC filing.

Other hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of HP during the third quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new stake in shares of HP during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the second quarter valued at about $34,000. Wolff Wiese Magana LLC grew its position in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after buying an additional 518 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in HP during the third quarter worth about $37,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HPQ shares. Morgan Stanley decreased their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a research note on Friday. UBS Group increased their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital dropped their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Bank of America downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $36.77.

Insider Activity at HP

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

HP Stock Up 2.2 %

HP stock opened at $35.43 on Friday. The stock has a market cap of $34.14 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 2.40 and a beta of 1.07. The business has a 50-day simple moving average of $36.57 and a 200 day simple moving average of $35.56. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $13.99 billion. During the same period in the prior year, the business earned $0.90 earnings per share. HP’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current year.

HP Increases Dividend

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

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

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.