Argent Trust Co Purchases 93,943 Shares of HP Inc. (NYSE:HPQ)

Argent Trust Co raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 102.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,581 shares of the computer maker's stock after acquiring an additional 93,943 shares during the quarter. Argent Trust Co's holdings in HP were worth $6,056,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HPQ. TIAA Trust National Association grew its stake in HP by 1.8% during 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 during the last quarter. HBK Sorce Advisory LLC boosted its position in 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 during the last quarter. Auxano Advisors LLC increased its holdings in HP by 3.7% in 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 raised its position in HP by 2.6% during the 4th quarter. Wedmont Private Capital now owns 12,648 shares of the computer maker's stock worth $420,000 after buying an additional 316 shares during the last quarter. Finally, Pinnacle Financial Partners Inc lifted its stake in HP by 2.7% during 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. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

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HP Stock Performance

Shares of HPQ traded up $0.55 during mid-day trading on Friday, reaching $23.42. 10,168,027 shares of the company's stock traded hands, compared to its average volume of 7,807,575. HP Inc. has a 12 month low of $21.21 and a 12 month high of $39.80. The stock has a market capitalization of $22.08 billion, a P/E ratio of 8.34, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. The business's 50-day moving average price is $29.45 and its 200-day moving average price is $33.13.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $13.35 billion. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.2894 per share. The ex-dividend date was Wednesday, March 12th. This represents a $1.16 annualized dividend and a dividend yield of 4.94%. HP's dividend payout ratio (DPR) is presently 41.37%.

Analyst Ratings Changes

Several equities analysts recently issued reports on HPQ shares. Barclays boosted their target price on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Sanford C. Bernstein raised their target price on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research report on Friday, January 3rd. StockNews.com cut HP from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. TD Cowen cut their price objective on HP from $39.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Finally, Loop Capital decreased their target price on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.14.

Insider Activity at HP

In related news, insider Anneliese Olson sold 21,545 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now owns 169 shares of the company's stock, valued at $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

About HP

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.