Mitsubishi UFJ Trust & Banking Corp Sells 3,053 Shares of HP Inc. (NYSE:HPQ)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of HP Inc. (NYSE:HPQ) by 0.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,709,293 shares of the computer maker’s stock after selling 3,053 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.17% of HP worth $51,847,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Rosenberg Matthew Hamilton boosted its position in HP by 84.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of HP in the 4th quarter valued at approximately $28,000. Sawyer & Company Inc grew its stake in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after buying an additional 900 shares in the last quarter. Janiczek Wealth Management LLC increased its holdings in HP by 116.7% during the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares during the last quarter. Finally, Rise Advisors LLC raised its position in HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after acquiring an additional 839 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HPQ. Wells Fargo & Company lifted their price objective on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research report on Thursday, May 30th. Morgan Stanley boosted their price target on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Bank of America raised their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. UBS Group boosted their target price on HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Citigroup lifted their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, HP currently has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Trading Down 0.6 %

NYSE HPQ traded down $0.23 during trading on Friday, reaching $37.15. The company’s stock had a trading volume of 4,773,663 shares, compared to its average volume of 6,861,315. The firm has a 50 day moving average price of $35.04 and a 200 day moving average price of $31.22. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52. The firm has a market capitalization of $36.35 billion, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 2.36 and a beta of 1.09.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that HP Inc. will post 3.45 EPS for the current fiscal year.

HP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.2756 per share. The ex-dividend date is Wednesday, September 11th. This represents a $1.10 annualized dividend and a dividend yield of 2.97%. HP’s dividend payout ratio is 37.16%.

Insider Activity at HP

In other HP news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by 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.