Atlantic Union Bankshares Corp Sells 1,500 Shares of HP Inc. (NYSE:HPQ)

Atlantic Union Bankshares Corp reduced its stake in shares of HP Inc. (NYSE:HPQ) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,573 shares of the computer maker’s stock after selling 1,500 shares during the period. Atlantic Union Bankshares Corp’s holdings in HP were worth $1,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPQ. Cetera Investment Advisers boosted its holdings in HP by 154.7% in the 1st quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock worth $3,309,000 after buying an additional 66,510 shares during the period. Cetera Advisors LLC lifted its holdings in HP by 43.9% in the 1st quarter. Cetera Advisors LLC now owns 38,796 shares of the computer maker’s stock worth $1,172,000 after purchasing an additional 11,830 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in HP during the 2nd quarter valued at approximately $241,000. GAMMA Investing LLC raised its position in shares of HP by 32.8% during the second quarter. GAMMA Investing LLC now owns 10,323 shares of the computer maker’s stock valued at $362,000 after buying an additional 2,549 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of HP by 11.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker’s stock worth $125,000 after buying an additional 372 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HPQ has been the subject of several research analyst reports. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. TD Cowen raised their price target on HP from $32.00 to $39.00 and gave the company a “hold” rating in a report on Wednesday. Finally, HSBC cut HP from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $38.00 in a report on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, HP has a consensus rating of “Hold” and a consensus target price of $36.77.

HP Price Performance

Shares of NYSE:HPQ opened at $35.43 on Friday. HP Inc. has a 1 year low of $27.42 and a 1 year high of $39.79. The firm has a market capitalization of $34.14 billion, a PE ratio of 12.61, a P/E/G ratio of 2.40 and a beta of 1.07. The business’s 50 day moving average price is $36.57 and its 200-day moving average price is $35.56.

HP (NYSE:HPQ) last released its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. As a group, analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP announced that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

HP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be given a $0.2894 dividend. The ex-dividend date is Wednesday, December 11th. This is a boost from HP’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.27%. HP’s payout ratio is 40.93%.

HP 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.