First Hawaiian Bank Cuts Holdings in HP Inc. (NYSE:HPQ)

First Hawaiian Bank cut its position in shares of HP Inc. (NYSE:HPQ) by 3.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,543 shares of the computer maker’s stock after selling 1,902 shares during the quarter. First Hawaiian Bank’s holdings in HP were worth $2,050,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HPQ. Raymond James & Associates boosted its stake in HP by 66.5% in the fourth quarter. Raymond James & Associates now owns 378,798 shares of the computer maker’s stock valued at $11,398,000 after acquiring an additional 151,242 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of HP by 28.0% in the fourth quarter. Global Retirement Partners LLC now owns 3,348 shares of the computer maker’s stock valued at $97,000 after purchasing an additional 732 shares during the period. Pinnacle Associates Ltd. bought a new stake in shares of HP in the fourth quarter valued at approximately $233,000. DAVENPORT & Co LLC raised its position in shares of HP by 70.2% in the fourth quarter. DAVENPORT & Co LLC now owns 17,281 shares of the computer maker’s stock valued at $520,000 after purchasing an additional 7,127 shares during the period. Finally, Arvest Investments Inc. bought a new stake in shares of HP in the fourth quarter valued at approximately $1,045,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Alex Cho sold 173,137 shares of HP stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

HPQ has been the topic of several research reports. Wells Fargo & Company boosted their price target 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. Barclays boosted their price target on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. TD Cowen increased their target price on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on shares of HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, UBS Group increased their target price on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.64.

HP Trading Down 2.9 %

Shares of HP stock traded down $0.97 on Monday, hitting $32.75. 7,338,538 shares of the company traded hands, compared to its average volume of 7,944,661. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The firm’s 50-day simple moving average is $35.95 and its 200 day simple moving average is $31.68. The company has a market cap of $32.05 billion, a P/E ratio of 11.09, a P/E/G ratio of 2.24 and a beta of 1.09.

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

HP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Wednesday, September 11th. HP’s payout ratio is 37.16%.

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.