HP Inc. (HPQ) Stake Raised by Suntrust Banks Inc.

Suntrust Banks Inc. lifted its stake in shares of HP Inc. (NYSE:HPQ) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,983 shares of the computer maker’s stock after purchasing an additional 10,677 shares during the period. Suntrust Banks Inc.’s holdings in HP were worth $4,562,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Claybrook Capital LLC raised its position in shares of HP by 367.8% during the fourth quarter. Claybrook Capital LLC now owns 1,235 shares of the computer maker’s stock worth $25,000 after purchasing an additional 971 shares during the period. Athena Capital Advisors LLC acquired a new stake in shares of HP during the fourth quarter worth $29,000. Ipswich Investment Management Co. Inc. acquired a new position in HP during the fourth quarter valued at $31,000. Legacy Bridge LLC acquired a new position in HP during the fourth quarter valued at $39,000. Finally, Clarus Wealth Advisors acquired a new position in HP during the fourth quarter valued at $39,000. 79.80% of the stock is currently owned by institutional investors.

Shares of HPQ stock opened at $19.34 on Friday. HP Inc. has a fifty-two week low of $18.46 and a fifty-two week high of $27.08. The stock has a market capitalization of $29.66 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 3.34 and a beta of 1.39.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 13th will be given a $0.1602 dividend. This represents a $0.64 annualized dividend and a yield of 3.31%. The ex-dividend date is Tuesday, March 12th. HP’s payout ratio is currently 31.68%.

In other HP news, CEO Dion J. Weisler sold 36,799 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.00, for a total value of $735,980.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

HPQ has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $26.00 price target on shares of HP in a research report on Wednesday, January 2nd. Standpoint Research initiated coverage on HP in a research report on Wednesday, December 26th. They set a “buy” rating and a $19.38 price target on the stock. JPMorgan Chase & Co. reissued a “hold” rating on shares of HP in a research report on Thursday, February 28th. BMO Capital Markets reissued a “hold” rating and set a $22.00 price target on shares of HP in a research report on Wednesday, February 27th. Finally, ValuEngine raised HP from a “sell” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.38.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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