Oakworth Capital Inc. Buys 1,745 Shares of HP Inc. (NYSE:HPQ)

Oakworth Capital Inc. grew its stake in HP Inc. (NYSE:HPQ) by 21.6% in the 4th quarter, Holdings Channel reports. The firm owned 9,806 shares of the computer maker’s stock after purchasing an additional 1,745 shares during the period. Oakworth Capital Inc.’s holdings in HP were worth $295,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HPQ. Vanguard Group Inc. lifted its stake in shares of HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after purchasing an additional 12,883,347 shares during the period. Geode Capital Management LLC raised its holdings in HP by 2.2% in the first quarter. Geode Capital Management LLC now owns 19,387,223 shares of the computer maker’s stock worth $568,395,000 after purchasing an additional 421,075 shares in the last quarter. Morgan Stanley raised its holdings in HP by 22.5% in the fourth quarter. Morgan Stanley now owns 14,639,525 shares of the computer maker’s stock worth $393,364,000 after purchasing an additional 2,686,976 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in HP by 114,461.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,538,630 shares of the computer maker’s stock valued at $310,043,000 after buying an additional 11,528,558 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of HP by 6.2% during the 3rd quarter. Northern Trust Corp now owns 10,131,560 shares of the computer maker’s stock valued at $260,381,000 after buying an additional 589,775 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on HPQ. Barclays increased their price target on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and upped their price objective for the stock from $30.00 to $33.00 in a report on Wednesday, February 14th. Finally, StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, HP currently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

HP Stock Performance

Shares of HP stock opened at $27.69 on Thursday. The company has a 50-day simple moving average of $29.37 and a two-hundred day simple moving average of $28.78. The stock has a market capitalization of $27.16 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, equities research analysts forecast that HP Inc. will post 3.42 EPS for the current fiscal year.

HP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a dividend of $0.2756 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Tuesday, March 12th. HP’s payout ratio is currently 32.16%.

Insider Activity at HP

In other HP news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the transaction, the director now owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the completion of the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock valued at $3,479,287 over the last ninety days. Insiders own 0.41% of the company’s stock.

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.