FTB Advisors Inc. Cuts Stake in HP Inc. (HPQ)

FTB Advisors Inc. trimmed its position in HP Inc. (NYSE:HPQ) by 63.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 23,227 shares of the computer maker’s stock after selling 39,902 shares during the period. FTB Advisors Inc.’s holdings in HP were worth $451,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. World Asset Management Inc increased its position in shares of HP by 6.4% in the first quarter. World Asset Management Inc now owns 102,295 shares of the computer maker’s stock valued at $1,988,000 after acquiring an additional 6,116 shares during the last quarter. Inlet Private Wealth LLC grew its holdings in HP by 28.0% during the first quarter. Inlet Private Wealth LLC now owns 51,216 shares of the computer maker’s stock worth $995,000 after purchasing an additional 11,216 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in HP by 13.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 244,360 shares of the computer maker’s stock worth $4,748,000 after purchasing an additional 28,681 shares during the period. Enterprise Financial Services Corp grew its holdings in HP by 32.3% during the first quarter. Enterprise Financial Services Corp now owns 3,503 shares of the computer maker’s stock worth $69,000 after purchasing an additional 855 shares during the period. Finally, Kays Financial Advisory Corp ADV bought a new position in HP during the first quarter worth about $202,000. Hedge funds and other institutional investors own 79.19% of the company’s stock.

NYSE HPQ traded down $0.24 on Wednesday, reaching $19.20. The company had a trading volume of 16,045,800 shares, compared to its average volume of 11,378,840. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 3.15 and a beta of 1.38. HP Inc. has a fifty-two week low of $18.06 and a fifty-two week high of $27.08.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, February 27th. The computer maker reported $0.52 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.52. The business had revenue of $14.71 billion during the quarter, compared to the consensus estimate of $14.81 billion. HP had a negative return on equity of 216.97% and a net margin of 7.15%. HP’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. Sell-side analysts anticipate that HP Inc. will post 2.14 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.1602 per share. The ex-dividend date of this dividend is Tuesday, June 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.34%. HP’s dividend payout ratio (DPR) is presently 31.68%.

In other news, CEO Dion J. Weisler sold 36,799 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $20.00, for a total transaction of $735,980.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on HPQ shares. BMO Capital Markets reiterated a “hold” rating and set a $22.00 price target on shares of HP in a report on Wednesday, February 27th. Bank of America cut HP from a “buy” rating to an “underperform” rating and set a $19.00 price objective for the company. in a report on Thursday, February 28th. ValuEngine cut HP from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. JPMorgan Chase & Co. restated a “hold” rating on shares of HP in a report on Thursday, February 28th. Finally, Zacks Investment Research upgraded HP from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $25.71.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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