Montecito Bank & Trust Acquires 853 Shares of HP Inc. (NYSE:HPQ)

Montecito Bank & Trust boosted its holdings in HP Inc. (NYSE:HPQ) by 3.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,997 shares of the computer maker’s stock after acquiring an additional 853 shares during the quarter. Montecito Bank & Trust’s holdings in HP were worth $914,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after acquiring an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC boosted its holdings in HP by 11.1% during the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. DME Capital Management LP grew its position in HP by 108.7% in the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after purchasing an additional 1,757,070 shares in the last quarter. Pacer Advisors Inc. increased its stake in HP by 11.4% in the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock valued at $508,791,000 after buying an additional 1,455,138 shares during the last quarter. Finally, Bridgewater Associates LP lifted its position in shares of HP by 2,649.5% during the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock worth $47,298,000 after buying an additional 1,270,642 shares in 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 opened at $33.33 on Friday. The stock’s 50-day moving average is $34.53 and its 200 day moving average is $35.31. The stock has a market cap of $31.26 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 2.83 and a beta of 1.05. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $14.06 billion during the quarter, compared to analyst estimates of $13.99 billion. During the same period in the previous year, the business posted $0.90 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is 41.28%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays increased their price target on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. TD Cowen raised their target price on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, November 27th. HSBC downgraded HP from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $38.00 in a research note on Friday, November 29th. Hsbc Global Res downgraded shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. Finally, JPMorgan Chase & Co. reduced their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, HP currently has an average rating of “Hold” and a consensus target price of $36.23.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $36.45, for a total transaction of $4,997,076.30. Following the completion of the sale, the chief executive officer now owns 89,272 shares of the company’s stock, valued at $3,253,964.40. This represents a 60.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.

HP Company 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.