HP Inc. (NYSE:HPQ) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lessened its holdings in HP Inc. (NYSE:HPQ) by 3.3% during the 3rd quarter, Holdings Channel reports. The firm owned 43,573 shares of the computer maker’s stock after selling 1,500 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in HP were worth $1,563,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HPQ. Ashton Thomas Securities LLC acquired a new position in HP during the third quarter worth approximately $25,000. Triad Wealth Partners LLC purchased a new position in HP in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in HP in the second quarter valued at about $34,000. Wolff Wiese Magana LLC increased its stake in shares of HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after buying an additional 518 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in shares of HP in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Loop Capital reduced their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. TD Cowen raised their price target on shares of HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday. UBS Group boosted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays raised their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, HSBC lowered HP from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $38.00 in a report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP has an average rating of “Hold” and a consensus target price of $36.77.

HP Stock Up 2.2 %

Shares of NYSE HPQ opened at $35.43 on Friday. The company has a market cap of $34.14 billion, a P/E ratio of 12.61, a P/E/G ratio of 2.40 and a beta of 1.07. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.79. The business’s 50 day moving average is $36.57 and its two-hundred day moving average is $35.56.

HP (NYSE:HPQ) last released 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. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Sell-side analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP announced that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to buy up to 28.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be paid a $0.2894 dividend. The ex-dividend date is Wednesday, December 11th. This is an increase from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.27%. HP’s payout ratio is currently 40.93%.

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.