Cullen Frost Bankers Inc. Cuts Stake in HP Inc. (NYSE:HPQ)

Cullen Frost Bankers Inc. lowered its holdings in shares of HP Inc. (NYSE:HPQ) by 21.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,558 shares of the computer maker’s stock after selling 3,948 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in HP were worth $475,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HPQ. Van ECK Associates Corp grew its position in shares of HP by 6.0% during the third quarter. Van ECK Associates Corp now owns 37,550 shares of the computer maker’s stock worth $1,346,000 after purchasing an additional 2,139 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of HP during the third quarter worth about $247,000. Graypoint LLC grew its position in shares of HP by 28.7% during the third quarter. Graypoint LLC now owns 15,896 shares of the computer maker’s stock worth $570,000 after purchasing an additional 3,547 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Finally, Applied Finance Capital Management LLC boosted its stake in HP by 0.3% during the third quarter. Applied Finance Capital Management LLC now owns 1,766,422 shares of the computer maker’s stock valued at $63,362,000 after buying an additional 4,444 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Sanford C. Bernstein increased their price target on HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Loop Capital dropped their price target on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. TD Cowen dropped their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Barclays increased their price target on HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. dropped their price target on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, HP presently has a consensus rating of “Hold” and an average target price of $36.14.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 11,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the transaction, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alex Cho sold 40,287 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $34.80, for a total value of $1,401,987.60. Following the transaction, the insider now owns 64,676 shares in the company, valued at $2,250,724.80. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 262,737 shares of company stock worth $9,316,641. 0.38% of the stock is currently owned by company insiders.

HP Price Performance

NYSE:HPQ opened at $30.56 on Friday. The firm has a market capitalization of $28.80 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The business has a 50 day simple moving average of $32.76 and a 200-day simple moving average of $34.65.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. As a group, analysts expect that HP Inc. will post 3.56 earnings per share for the current fiscal year.

HP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 3.79%. HP’s payout ratio is 41.37%.

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.