Truist Financial Corp Has $5.26 Million Holdings in HP Inc. (NYSE:HPQ)

Truist Financial Corp decreased its position in HP Inc. (NYSE:HPQ) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 161,221 shares of the computer maker’s stock after selling 14,086 shares during the quarter. Truist Financial Corp’s holdings in HP were worth $5,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in HP by 8.2% during the third quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of HP by 11.1% during the 3rd quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after buying an additional 2,477,977 shares during the last quarter. KBC Group NV grew its holdings in shares of HP by 145.1% in the 4th quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after acquiring an additional 2,105,104 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of HP in the fourth quarter valued at about $65,260,000. Finally, Pacer Advisors Inc. raised its holdings in HP by 11.4% during the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity

In other HP news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 in the company, valued at approximately $2,219,680.32. This trade represents a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by company insiders.

HP Stock Performance

Shares of HPQ opened at $34.63 on Monday. The firm has a market cap of $32.48 billion, a P/E ratio of 12.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.05. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79. The firm’s 50-day simple moving average is $33.10 and its 200 day simple moving average is $34.86.

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

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s dividend payout ratio is currently 40.93%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HPQ shares. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 29th. Citigroup decreased their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Sanford C. Bernstein lifted their price objective 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. Finally, Wells Fargo & Company upped their target price on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.68.

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.