Atlantic Union Bankshares Corp Lowers Stake in HP Inc. (NYSE:HPQ)

Atlantic Union Bankshares Corp lessened its holdings in HP Inc. (NYSE:HPQ) by 0.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,573 shares of the computer maker’s stock after selling 400 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in HP were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Treasurer of the State of North Carolina increased its position in HP by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock valued at $12,090,000 after buying an additional 4,102 shares in the last quarter. Alaska Permanent Fund Corp increased its holdings in shares of HP by 1.4% during the fourth quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock valued at $2,386,000 after acquiring an additional 1,091 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of HP by 87.9% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock worth $22,960,000 after purchasing an additional 358,231 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in HP in the 4th quarter worth about $1,758,000. Finally, Flputnam Investment Management Co. purchased a new stake in HP during the 4th quarter valued at about $211,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Up 0.9 %

Shares of NYSE:HPQ opened at $35.01 on Friday. The firm’s 50 day moving average price is $32.71 and its 200-day moving average price is $30.60. The stock has a market capitalization of $34.26 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.12. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same period last year, the firm earned $0.80 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis. Analysts expect that HP Inc. will post 3.45 earnings per share for the current fiscal year.

HP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be issued a $0.2756 dividend. This represents a $1.10 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s dividend payout ratio is 37.16%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lifted their target price on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Morgan Stanley increased their target price on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. UBS Group lifted their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. TD Cowen upped their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Bank of America lifted their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

Insider Activity

In other HP news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares in the company, valued at approximately $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

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.