Bank of New York Mellon Corp Trims Stock Holdings in HP Inc. (NYSE:HPQ)

Bank of New York Mellon Corp lowered its stake in shares of HP Inc. (NYSE:HPQ) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,095,003 shares of the computer maker’s stock after selling 1,502,128 shares during the period. Bank of New York Mellon Corp owned 0.76% of HP worth $231,510,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. King Luther Capital Management Corp raised its position in HP by 3.2% during the 3rd quarter. King Luther Capital Management Corp now owns 9,635 shares of the computer maker’s stock valued at $346,000 after purchasing an additional 303 shares during the last quarter. Arvest Investments Inc. raised its holdings in shares of HP by 0.9% during the third quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock valued at $1,232,000 after acquiring an additional 310 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in HP by 4.3% in the third quarter. Avidian Wealth Enterprises LLC now owns 7,734 shares of the computer maker’s stock worth $277,000 after acquiring an additional 316 shares during the period. Wedmont Private Capital boosted its holdings in HP by 2.6% in the fourth quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after acquiring an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc increased its position in HP by 2.7% during the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after purchasing an additional 319 shares during the period. 77.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HPQ has been the topic of a number of research reports. TD Cowen lifted their target price on shares of HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays upped 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. HSBC cut 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 research note on Friday, November 29th. JPMorgan Chase & Co. decreased their price objective on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein boosted their target price on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, HP has an average rating of “Hold” and an average price target of $36.68.

Insiders Place Their Bets

In other news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were 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 directly owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex Cho sold 40,287 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $34.80, for a total transaction of $1,401,987.60. Following the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,250,724.80. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 262,737 shares of company stock valued at $9,316,641. 0.41% of the stock is owned by insiders.

HP Stock Performance

Shares of HP stock opened at $33.15 on Friday. The company has a 50-day simple moving average of $33.15 and a two-hundred day simple moving average of $34.86. The stock has a market capitalization of $31.08 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.96 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 announced its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. As a group, equities research analysts forecast that HP Inc. will post 3.56 EPS for the current fiscal year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.2894 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.16 annualized dividend and a yield of 3.49%. HP’s payout ratio is 40.93%.

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.