Ronald Blue Trust Inc. Acquires 2,530 Shares of HP Inc. (NYSE:HPQ)

Posted by on Mar 26th, 2023

Ronald Blue Trust Inc. increased its stake in HP Inc. (NYSE:HPQ – Get Rating) by 37.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,330 shares of the computer maker’s stock after purchasing an additional 2,530 shares during the quarter. Ronald Blue Trust Inc.’s holdings in HP were worth $232,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in HP during the third quarter worth $27,000. Covington Capital Management boosted its stake in HP by 1.4% during the third quarter. Covington Capital Management now owns 49,530 shares of the computer maker’s stock worth $1,234,000 after buying an additional 686 shares in the last quarter. Credit Agricole S A increased its holdings in HP by 50.7% in the 3rd quarter. Credit Agricole S A now owns 5,328 shares of the computer maker’s stock valued at $133,000 after buying an additional 1,793 shares during the period. Whittier Trust Co. raised its stake in shares of HP by 11.1% in the 3rd quarter. Whittier Trust Co. now owns 26,449 shares of the computer maker’s stock valued at $659,000 after buying an additional 2,639 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of HP by 9.3% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 138,592 shares of the computer maker’s stock worth $3,454,000 after acquiring an additional 11,789 shares during the period. 79.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the subject of several recent research reports. Sanford C. Bernstein dropped their price target on shares of HP from $30.00 to $29.00 in a research report on Monday, January 9th. The Goldman Sachs Group assumed coverage on HP in a research report on Monday, March 20th. They set a “neutral” rating and a $26.00 target price for the company. Morgan Stanley upped their price target on HP from $24.00 to $28.00 and gave the company an “underweight” rating in a research report on Tuesday, February 21st. StockNews.com assumed coverage on HP in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, TheStreet downgraded shares of HP from a “b-” rating to a “c+” rating in a research note on Tuesday, February 28th. Four research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.19.

HP Stock Performance

Shares of HPQ stock opened at $27.72 on Friday. HP Inc. has a 1 year low of $24.08 and a 1 year high of $41.47. The firm’s 50 day moving average is $28.87 and its 200-day moving average is $27.97. The firm has a market capitalization of $27.31 billion, a price-to-earnings ratio of 11.04, a PEG ratio of 3.11 and a beta of 1.01.

HP (NYSE:HPQ – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The computer maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $13.83 billion for the quarter, compared to the consensus estimate of $14.17 billion. HP had a negative return on equity of 141.20% and a net margin of 4.36%. The business’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 EPS. On average, equities research analysts forecast that HP Inc. will post 3.28 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 5th. Shareholders of record on Wednesday, March 8th will be given a dividend of $0.2625 per share. The ex-dividend date is Tuesday, March 7th. This represents a $1.05 dividend on an annualized basis and a yield of 3.79%. HP’s payout ratio is presently 41.83%.

Insider Activity

In other HP news, insider David P. Mcquarrie sold 20,609 shares of the firm’s stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $26.64, for a total value of $549,023.76. Following the transaction, the insider now directly owns 4,551 shares of the company’s stock, valued at $121,238.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider David P. Mcquarrie sold 20,609 shares of the stock in a transaction that occurred on Wednesday, December 28th. The shares were sold at an average price of $26.64, for a total value of $549,023.76. Following the sale, the insider now directly owns 4,551 shares in the company, valued at approximately $121,238.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Enrique Lores sold 34,000 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $27.13, for a total transaction of $922,420.00. Following the completion of the sale, the chief executive officer now owns 804,268 shares in the company, valued at $21,819,790.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,749 shares of company stock valued at $2,105,460. 0.32% of the stock is currently owned by insiders.

About HP

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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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