HP Inc. (NYSE:HPQ) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,144,705 shares of the computer maker's stock after selling 41,801 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of HP worth $59,387,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of HP during the 4th quarter worth approximately $36,000. OFI Invest Asset Management bought a new position in shares of HP during the 4th quarter worth approximately $37,000. CoreCap Advisors LLC raised its stake in shares of HP by 71.9% during the 4th quarter. CoreCap Advisors LLC now owns 1,403 shares of the computer maker's stock worth $46,000 after acquiring an additional 587 shares in the last quarter. Financial Freedom LLC raised its stake in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock worth $42,000 after acquiring an additional 878 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of HP by 165.3% during the 1st quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock worth $42,000 after acquiring an additional 947 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several research analyst reports. Citigroup dropped their target price on shares of HP from $29.00 to $27.50 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. Wall Street Zen raised shares of HP from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. JPMorgan Chase & Co. dropped their target price 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. TD Cowen dropped their target price on shares of HP from $38.00 to $28.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Finally, Bank of America dropped their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $29.54.

HP Price Performance

NYSE:HPQ traded up $1.07 during midday trading on Tuesday, hitting $25.53. The company's stock had a trading volume of 13,486,497 shares, compared to its average volume of 7,903,839. HP Inc. has a fifty-two week low of $21.21 and a fifty-two week high of $39.80. The firm's 50 day moving average is $25.91 and its 200-day moving average is $28.88. The firm has a market cap of $23.98 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.01 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly 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 business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $13.09 billion. HP had a negative return on equity of 244.99% and a net margin of 4.64%. HP's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. As a group, analysts forecast that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.2894 per share. The ex-dividend date is Wednesday, September 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.53%. HP's payout ratio is 44.79%.

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.