Chevy Chase Trust Holdings LLC Cuts Stock Position in HP Inc. (NYSE:HPQ)

Chevy Chase Trust Holdings LLC decreased its holdings in HP Inc. (NYSE:HPQ) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 473,321 shares of the computer maker’s stock after selling 11,659 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in HP were worth $16,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HPQ. Sawyer & Company Inc raised its holdings in shares of HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares in the last quarter. Rise Advisors LLC lifted its holdings in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after buying an additional 839 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of HP in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the 2nd quarter valued at about $34,000. Finally, Sunbelt Securities Inc. lifted its stake in HP by 136.8% during the first quarter. Sunbelt Securities Inc. now owns 1,769 shares of the computer maker’s stock worth $53,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Up 0.6 %

Shares of NYSE:HPQ traded up $0.21 during midday trading on Tuesday, hitting $34.81. The stock had a trading volume of 6,828,176 shares, compared to its average volume of 7,838,800. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The stock has a 50 day moving average price of $35.64 and a two-hundred day moving average price of $32.04. The company has a market capitalization of $34.06 billion, a PE ratio of 11.69, a P/E/G ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. HP’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 EPS. As a group, equities analysts expect that HP Inc. will post 3.45 EPS for the current year.

HP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio is presently 37.16%.

Analysts Set New Price Targets

HPQ has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Barclays boosted their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Bank of America lifted their target price on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. TD Cowen raised their price target on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Finally, Wells Fargo & Company increased their price objective on HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.64.

Insider Activity at HP

In related news, insider Alex Cho sold 173,137 shares of HP stock in a transaction on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

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.