Rockland Trust Co. Sells 4,762 Shares of HP Inc. (NYSE:HPQ)

Rockland Trust Co. trimmed its position in HP Inc. (NYSE:HPQ) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,311 shares of the computer maker’s stock after selling 4,762 shares during the quarter. Rockland Trust Co.’s holdings in HP were worth $9,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock worth $1,871,046,000 after buying an additional 3,923,161 shares in the last quarter. Geode Capital Management LLC raised its stake 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 acquiring an additional 2,477,977 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of 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 purchasing an additional 1,455,138 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of HP by 11.3% during the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HPQ shares. Hsbc Global Res lowered shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Sanford C. Bernstein boosted their price objective on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Barclays increased their target price on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. Finally, Citigroup cut their target price on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a research report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.23.

HP Price Performance

HPQ stock opened at $32.66 on Wednesday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The company’s 50-day moving average is $35.05 and its 200-day moving average is $35.40. The stock has a market capitalization of $30.63 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a negative return on equity of 253.39% and a net margin of 5.18%. 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 company posted $0.90 EPS. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a $0.2894 dividend. The ex-dividend date of this dividend was 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 3.54%. HP’s dividend payout ratio is currently 40.93%.

Insider Activity at HP

In other news, insider Stephanie Liebman sold 11,000 shares of HP stock in a transaction dated Monday, December 30th. The shares were 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 owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 directly owns 64,676 shares of the company’s stock, 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 three months, insiders sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is owned by insiders.

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.