Swiss National Bank Cuts Holdings in HP Inc. (NYSE:HPQ)

Swiss National Bank reduced its holdings in shares of HP Inc. (NYSE:HPQ) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,781,300 shares of the computer maker’s stock after selling 72,900 shares during the quarter. Swiss National Bank owned 0.28% of HP worth $83,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Whittier Trust Co. boosted its holdings in shares of HP by 1.4% during the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after acquiring an additional 362 shares during the last quarter. Salem Investment Counselors Inc. grew its position in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after purchasing an additional 380 shares during the period. Massmutual Trust Co. FSB ADV grew its position in HP by 18.8% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock worth $73,000 after purchasing an additional 382 shares during the period. Rosenberg Matthew Hamilton raised its stake in HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after buying an additional 397 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of HP by 2.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 19,634 shares of the computer maker’s stock valued at $505,000 after buying an additional 442 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.

HP Trading Up 0.9 %

NYSE HPQ opened at $28.18 on Friday. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The stock has a market cap of $27.64 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 2.36 and a beta of 1.06. The company’s 50 day moving average is $29.20 and its two-hundred day moving average is $28.89.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share. Sell-side analysts forecast that HP Inc. will post 3.42 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

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

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.