Sanibel Captiva Trust Company Inc. Grows Stock Holdings in HP Inc. (NYSE:HPQ)

Sanibel Captiva Trust Company Inc. boosted its holdings in HP Inc. (NYSE:HPQ) by 4.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,833 shares of the computer maker’s stock after buying an additional 829 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in HP were worth $647,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avanza Fonder AB purchased a new stake in shares of HP during the fourth quarter worth about $3,288,000. Tompkins Financial Corp grew its holdings in HP by 386.6% during the 4th quarter. Tompkins Financial Corp now owns 2,895 shares of the computer maker’s stock valued at $94,000 after buying an additional 2,300 shares in the last quarter. KMG Fiduciary Partners LLC bought a new stake in shares of HP during the fourth quarter valued at approximately $1,633,000. Ritholtz Wealth Management lifted its holdings in shares of HP by 1.3% in the fourth quarter. Ritholtz Wealth Management now owns 97,423 shares of the computer maker’s stock worth $3,179,000 after buying an additional 1,228 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new position in shares of HP during the fourth quarter worth $530,000. 77.53% of the stock is owned by institutional investors.

Insider Activity at HP

In other HP news, 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 value of $353,427.36. Following the completion of the sale, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction 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 represents a 63.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 273,035 shares of company stock worth $9,670,068 in the last quarter. 0.41% of the stock is owned by company insiders.

HP Stock Up 0.6 %

Shares of HPQ opened at $32.53 on Monday. The business has a fifty day moving average of $34.78 and a 200 day moving average of $35.35. The company has a market cap of $30.51 billion, a PE ratio of 11.58, a P/E/G ratio of 2.83 and a beta of 1.05. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.79.

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

HP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were paid a dividend of $0.2894 per share. This is a positive change from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, December 11th. HP’s dividend payout ratio (DPR) is currently 40.93%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. TD Cowen lifted their price target on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday, November 27th. Barclays lifted their target price on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Citigroup dropped their price target on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday, November 29th. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.23.

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.