Rockland Trust Co. Trims Stake in HP Inc. (NYSE:HPQ)

Rockland Trust Co. lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,555 shares of the computer maker's stock after selling 52,756 shares during the period. Rockland Trust Co.'s holdings in HP were worth $6,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of HP during the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in HP during the fourth quarter worth about $36,000. OFI Invest Asset Management purchased a new position in HP during the fourth quarter worth about $37,000. CoreCap Advisors LLC raised its holdings in shares of HP by 71.9% in the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock valued at $46,000 after acquiring an additional 587 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of HP in the 4th quarter valued at about $55,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Price Performance

NYSE HPQ traded down $0.89 during trading on Friday, hitting $23.85. 7,081,796 shares of the company's stock traded hands, compared to its average volume of 7,859,557. The stock has a fifty day moving average of $25.69 and a two-hundred day moving average of $29.93. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The firm has a market cap of $22.40 billion, a P/E ratio of 8.49, a PEG ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company's revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 earnings per share. As a group, analysts expect that HP Inc. will post 3.56 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 1st. Investors of record on Wednesday, September 10th will be paid a $0.2894 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Wednesday, September 10th. HP's payout ratio is 44.40%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HPQ shares. Loop Capital decreased their price objective on shares of HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company cut their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. lowered their price objective on shares of HP from $30.00 to $27.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Evercore ISI dropped their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Finally, KGI Securities initiated coverage on HP in a research note on Thursday, May 29th. They issued a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.54.

Insider Activity at HP

In related news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephanie Liebman sold 15,646 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently 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.