First National Trust Co. boosted its position in shares of HP Inc. (NYSE:HPQ) by 18.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,196 shares of the computer maker’s stock after buying an additional 12,966 shares during the period. First National Trust Co.’s holdings in HP were worth $1,640,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in HPQ. Boston Partners grew its stake in HP by 304.9% during the second quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock worth $456,535,000 after buying an additional 19,667,780 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in HP by 87.1% during the second quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock worth $126,086,000 after buying an additional 3,358,299 shares in the last quarter. Miller Howard Investments Inc. NY acquired a new stake in HP during the third quarter worth about $63,140,000. Wells Fargo & Company MN grew its stake in HP by 26.3% during the second quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock worth $253,233,000 after buying an additional 3,017,182 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in HP by 35.0% during the second quarter. Prudential Financial Inc. now owns 11,456,195 shares of the computer maker’s stock worth $200,254,000 after buying an additional 2,970,120 shares in the last quarter. Hedge funds and other institutional investors own 79.63% of the company’s stock.
Shares of HP Inc. (HPQ) traded down $0.06 during mid-day trading on Tuesday, hitting $21.17. 4,921,900 shares of the stock traded hands, compared to its average volume of 10,845,362. The firm has a market cap of $35,459.49, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 3.15 and a beta of 1.85. HP Inc. has a one year low of $14.40 and a one year high of $22.31. The company has a current ratio of 0.97, a quick ratio of 0.74 and a debt-to-equity ratio of -1.55.
HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, topping the consensus estimate of $0.42 by $0.01. The company had revenue of $13.06 billion during the quarter, compared to the consensus estimate of $12.31 billion. HP had a net margin of 4.66% and a negative return on equity of 64.93%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. equities analysts expect that HP Inc. will post 1.65 EPS for the current year.
HPQ has been the topic of a number of analyst reports. Maxim Group reiterated a “hold” rating and set a $25.00 price objective on shares of HP in a research note on Friday, October 27th. Royal Bank Of Canada increased their price objective on shares of HP from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Deutsche Bank AG reiterated a “buy” rating on shares of HP in a research note on Thursday, August 24th. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, October 10th. Finally, Morgan Stanley increased their target price on shares of HP from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Nine analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. HP currently has an average rating of “Buy” and a consensus price target of $21.57.
In related news, insider Marie Myers sold 10,025 shares of HP stock in a transaction on Friday, September 15th. The shares were sold at an average price of $19.50, for a total value of $195,487.50. Following the completion of the sale, the insider now owns 10,025 shares of the company’s stock, valued at approximately $195,487.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Dion J. Weisler sold 731,502 shares of HP stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $19.97, for a total transaction of $14,608,094.94. Following the completion of the sale, the insider now directly owns 435,018 shares of the company’s stock, valued at approximately $8,687,309.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,853,937 shares of company stock valued at $37,905,548. Insiders own 0.62% of the company’s stock.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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