First Horizon Advisors Inc. Has $19.14 Million Holdings in HP Inc. (NYSE:HPQ)

First Horizon Advisors Inc. grew its holdings in HP Inc. (NYSE:HPQ) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 586,662 shares of the computer maker’s stock after buying an additional 18,863 shares during the period. First Horizon Advisors Inc. owned 0.06% of HP worth $19,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in HP by 8.2% during the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after purchasing an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock valued at $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. KBC Group NV raised its position in shares of HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock valued at $116,031,000 after purchasing an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of HP during the 4th quarter worth about $65,260,000. Finally, Pacer Advisors Inc. boosted its holdings in shares of HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after buying an additional 1,455,138 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Performance

Shares of NYSE HPQ opened at $34.63 on Friday. The stock has a market capitalization of $32.48 billion, a P/E ratio of 12.32, a PEG ratio of 2.96 and a beta of 1.05. The stock’s fifty day moving average is $33.10 and its 200 day moving average is $34.84. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last released its 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 firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $13.99 billion. During the same period last year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, March 12th. HP’s payout ratio is presently 40.93%.

Insider Buying and Selling at HP

In related news, CEO Enrique Lores sold 137,094 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction 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 transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,035 shares of company stock valued at $9,670,068. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday. TD Cowen upped 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. Barclays lifted their price target on HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. HSBC lowered HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $38.00 in a report on Friday, November 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.68.

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.