Haverford Trust Co. trimmed its position in shares of HP Inc. (NYSE:HPQ) by 7.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 20,227 shares of the computer maker’s stock after selling 1,541 shares during the quarter. Haverford Trust Co.’s holdings in HP were worth $383,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd purchased a new stake in shares of HP during the second quarter worth $33,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of HP during the second quarter worth $38,000. Coastal Capital Group Inc. purchased a new stake in shares of HP during the second quarter worth $39,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of HP during the second quarter worth $41,000. Finally, Berman Capital Advisors LLC raised its holdings in shares of HP by 378.6% during the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock worth $42,000 after acquiring an additional 1,609 shares in the last quarter. Institutional investors and hedge funds own 79.84% of the company’s stock.
HPQ has been the subject of several recent research reports. Bank of America cut their price objective on HP from $17.00 to $16.00 and set an “underperform” rating for the company in a report on Friday, October 4th. Barclays cut their price objective on HP from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Credit Suisse Group cut their price objective on HP from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Zacks Investment Research lowered HP from a “hold” rating to a “sell” rating and set a $21.00 price objective for the company. in a report on Thursday. Finally, Goldman Sachs Group downgraded shares of HP from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $18.00 to $14.00 in a research report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.80.
In other news, insider Dion J. Weisler sold 437,171 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.
HP stock traded up $0.13 during mid-day trading on Friday, hitting $19.52. 21,217,413 shares of the company’s stock were exchanged, compared to its average volume of 11,513,799. The stock has a market cap of $28.47 billion, a P/E ratio of 9.66, a P/E/G ratio of 3.60 and a beta of 1.41. HP Inc. has a 1-year low of $15.93 and a 1-year high of $25.49. The stock has a 50 day moving average of $17.62 and a two-hundred day moving average of $19.24.
HP (NYSE:HPQ) last posted its earnings results on Thursday, August 22nd. The computer maker reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $14.60 billion for the quarter, compared to the consensus estimate of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. Analysts expect that HP Inc. will post 2.21 EPS for the current fiscal year.
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.
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