Whittier Trust Co. Sells 3,385 Shares of HP Inc. (NYSE:HPQ)

Whittier Trust Co. decreased its stake in HP Inc. (NYSE:HPQ) by 13.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 21,310 shares of the computer maker’s stock after selling 3,385 shares during the period. Whittier Trust Co.’s holdings in HP were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of HP by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 25,350,016 shares of the computer maker’s stock worth $825,398,000 after purchasing an additional 579,525 shares during the last quarter. Gotham Asset Management LLC lifted its stake in HP by 23.6% in the fourth quarter. Gotham Asset Management LLC now owns 639,423 shares of the computer maker’s stock valued at $20,864,000 after buying an additional 122,289 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in HP in the fourth quarter valued at about $9,481,000. BayBridge Capital Group LLC acquired a new position in HP in the first quarter valued at about $1,505,000. Finally, National Bank of Canada FI increased its holdings in shares of HP by 71.7% in the fourth quarter. National Bank of Canada FI now owns 698,376 shares of the computer maker’s stock worth $22,788,000 after acquiring an additional 291,525 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HPQ shares. Evercore ISI lowered their price target on HP from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Morgan Stanley reduced their price target on HP from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, May 29th. Bank of America lowered their target price on HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen upgraded HP from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Finally, UBS Group dropped their price objective on HP from $37.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.54.

HP Stock Up 0.8%

HPQ stock opened at $24.75 on Friday. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The stock’s 50 day moving average is $25.89 and its 200-day moving average is $28.24. The firm has a market capitalization of $23.24 billion, a PE ratio of 9.55, a P/E/G ratio of 1.99 and a beta of 1.27.

HP (NYSE:HPQ) last issued its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. On average, equities research analysts anticipate that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Wednesday, September 10th. HP’s dividend payout ratio is currently 44.79%.

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.