PNC Financial Services Group Inc. Has $13.50 Million Position in HP Inc. (NYSE:HPQ)

PNC Financial Services Group Inc. raised its stake in shares of HP Inc. (NYSE:HPQ) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 413,617 shares of the computer maker’s stock after purchasing an additional 1,245 shares during the period. PNC Financial Services Group Inc.’s holdings in HP were worth $13,496,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in HP in the 3rd quarter valued at $25,000. Synergy Asset Management LLC bought a new position in shares of HP in the fourth quarter worth about $26,000. Stonebridge Financial Group LLC bought a new stake in HP during the 4th quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in shares of HP during the third quarter worth approximately $40,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of HP in the third quarter valued at approximately $44,000. Institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HPQ shares. Barclays increased their target price on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Citigroup cut their target price on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. TD Cowen lowered their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Wells Fargo & Company raised their price objective on shares of HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Finally, Sanford C. Bernstein lifted their price objective on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP has an average rating of “Hold” and a consensus price target of $36.14.

HP Stock Performance

Shares of HPQ opened at $28.66 on Wednesday. The company has a market cap of $27.01 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 2.96 and a beta of 1.09. The stock has a fifty day moving average price of $32.63 and a two-hundred day moving average price of $34.56. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. As a group, research analysts predict that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.04%. HP’s dividend payout ratio (DPR) is currently 41.37%.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen M. Ludgate sold 74,356 shares of HP stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,933,898.67. The trade was a 56.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company 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.