HP Inc. (NYSE:HPQ) Position Lowered by Swiss National Bank

Swiss National Bank trimmed its position in HP Inc. (NYSE:HPQ) by 19.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,202,100 shares of the computer maker’s stock after selling 790,000 shares during the period. Swiss National Bank owned 0.32% of HP worth $98,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Certified Advisory Corp bought a new position in HP in the first quarter worth about $26,000. Exchange Traded Concepts LLC increased its holdings in shares of HP by 83.2% in the 2nd quarter. Exchange Traded Concepts LLC now owns 914 shares of the computer maker’s stock worth $28,000 after acquiring an additional 415 shares during the period. Motco raised its holdings in shares of HP by 84.4% during the second quarter. Motco now owns 1,038 shares of the computer maker’s stock valued at $32,000 after buying an additional 475 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in HP during the 4th quarter worth $32,000. Finally, Glass Jacobson Investment Advisors llc acquired a new stake in HP in the second quarter worth about $35,000. 76.04% of the stock is owned by institutional investors.

Insider Buying and Selling at HP

In other news, CFO Marie Myers sold 4,165 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $30.00, for a total value of $124,950.00. Following the completion of the sale, the chief financial officer now directly owns 22,281 shares of the company’s stock, valued at $668,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other HP news, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $25.75, for a total value of $978,500.00. Following the transaction, the chief executive officer now owns 728,268 shares in the company, valued at $18,752,901. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marie Myers sold 4,165 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $30.00, for a total value of $124,950.00. Following the sale, the chief financial officer now directly owns 22,281 shares of the company’s stock, valued at $668,430. The disclosure for this sale can be found here. Insiders have sold a total of 14,457,179 shares of company stock valued at $388,231,371 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on HPQ. Barclays cut their target price on HP from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, August 30th. Deutsche Bank Aktiengesellschaft decreased their target price on HP from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, August 30th. StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Edward Jones raised shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, Citigroup raised shares of HP from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $31.00 to $33.00 in a research note on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.82.

HP Price Performance

Shares of HPQ opened at $28.28 on Wednesday. HP Inc. has a one year low of $25.22 and a one year high of $33.90. The company has a 50-day moving average of $26.95 and a two-hundred day moving average of $29.60. The stock has a market cap of $27.95 billion, a price-to-earnings ratio of 12.19, a PEG ratio of 2.29 and a beta of 1.04.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, hitting the consensus estimate of $0.86. The firm had revenue of $13.20 billion for the quarter, compared to analysts’ expectations of $13.38 billion. HP had a net margin of 4.23% and a negative return on equity of 113.55%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.04 EPS. Analysts anticipate that HP Inc. will post 3.3 earnings per share for the current year.

HP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be given a dividend of $0.2756 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a yield of 3.90%. HP’s dividend payout ratio (DPR) is presently 45.26%.

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.