Fulton Bank N.A. Lowers Stock Holdings in HP Inc. (NYSE:HPQ)

Fulton Bank N.A. reduced its stake in shares of HP Inc. (NYSE:HPQ) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,209 shares of the computer maker’s stock after selling 533 shares during the quarter. Fulton Bank N.A.’s holdings in HP were worth $4,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Cowen upped their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Barclays upped their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Hsbc Global Res downgraded HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, Citigroup lowered their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.23.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the sale, the chief executive officer now directly owns 89,272 shares of the company’s stock, valued at approximately $3,253,964.40. The trade was a 60.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. This represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by corporate insiders.

HP Price Performance

NYSE HPQ traded down $0.37 during trading hours on Wednesday, hitting $33.30. 1,268,941 shares of the company’s stock traded hands, compared to its average volume of 4,875,623. The company has a market capitalization of $31.23 billion, a PE ratio of 11.85, a PEG ratio of 2.95 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 moving average is $35.36 and its 200-day moving average is $35.48.

HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $14.06 billion during 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 company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.90 EPS. Equities research analysts predict that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were given a dividend of $0.2894 per share. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.48%. This is a boost from HP’s previous quarterly dividend of $0.28. HP’s dividend payout ratio (DPR) is presently 40.93%.

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.