Mitsubishi UFJ Trust & Banking Corp Trims Stake in HP Inc. (NYSE:HPQ)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in HP Inc. (NYSE:HPQ) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,318,218 shares of the computer maker’s stock after selling 99,242 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.14% of HP worth $43,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HPQ. TIAA Trust National Association increased its stake in shares of HP by 1.8% in the 4th quarter. TIAA Trust National Association now owns 16,796 shares of the computer maker’s stock valued at $548,000 after purchasing an additional 302 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of HP by 2.7% in the fourth quarter. HBK Sorce Advisory LLC now owns 11,467 shares of the computer maker’s stock valued at $374,000 after buying an additional 306 shares in the last quarter. Auxano Advisors LLC raised its stake in shares of HP by 3.7% during the 4th quarter. Auxano Advisors LLC now owns 8,650 shares of the computer maker’s stock worth $282,000 after buying an additional 310 shares during the period. Wedmont Private Capital lifted its position in shares of HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker’s stock valued at $420,000 after buying an additional 316 shares in the last quarter. Finally, Pinnacle Financial Partners Inc grew its stake in HP by 2.7% in the 4th quarter. Pinnacle Financial Partners Inc now owns 12,265 shares of the computer maker’s stock valued at $400,000 after acquiring an additional 319 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of HP from $37.00 to $36.50 and set a “neutral” rating on the stock in a report on Wednesday, November 27th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, March 4th. Barclays boosted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. TD Cowen decreased their target price on HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Finally, Wells Fargo & Company boosted their price target on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.14.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

HP Trading Down 0.4 %

Shares of HPQ stock opened at $28.71 on Thursday. HP Inc. has a twelve month low of $27.43 and a twelve month high of $39.80. The company’s 50-day moving average price is $31.64 and its 200-day moving average price is $34.06. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ) last posted its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. As a group, equities research analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

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 paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Wednesday, March 12th. HP’s dividend payout ratio (DPR) is presently 41.37%.

HP Company 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.