First National Trust Co boosted its stake in shares of HP Inc. (NYSE:HPQ) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,278 shares of the computer maker’s stock after acquiring an additional 2,512 shares during the quarter. First National Trust Co’s holdings in HP were worth $2,687,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Franklin Street Advisors Inc. NC increased its stake in shares of HP by 16.8% in the third quarter. Franklin Street Advisors Inc. NC now owns 14,076 shares of the computer maker’s stock valued at $363,000 after buying an additional 2,026 shares in the last quarter. Northwest Bancshares Inc. increased its stake in shares of HP by 2.9% in the third quarter. Northwest Bancshares Inc. now owns 72,715 shares of the computer maker’s stock valued at $1,874,000 after buying an additional 2,069 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in shares of HP by 1.0% in the second quarter. Mutual of America Capital Management LLC now owns 211,566 shares of the computer maker’s stock valued at $4,800,000 after buying an additional 2,101 shares in the last quarter. MAI Capital Management increased its stake in shares of HP by 16.5% in the second quarter. MAI Capital Management now owns 16,542 shares of the computer maker’s stock valued at $375,000 after buying an additional 2,348 shares in the last quarter. Finally, Dorsey Wright & Associates increased its stake in shares of HP by 1.6% in the second quarter. Dorsey Wright & Associates now owns 153,022 shares of the computer maker’s stock valued at $3,472,000 after buying an additional 2,404 shares in the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.
Shares of HPQ stock opened at $24.49 on Friday. The stock has a market capitalization of $37.46 billion, a P/E ratio of 14.84, a PEG ratio of 1.63 and a beta of 1.64. HP Inc. has a 12 month low of $19.31 and a 12 month high of $27.08.
HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. The firm had revenue of $14.59 billion during the quarter, compared to analyst estimates of $14.29 billion. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. Analysts anticipate that HP Inc. will post 2.02 EPS for the current year.
In other HP news, COO Catherine A. Lesjak sold 693,594 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $25.78, for a total transaction of $17,880,853.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $22.00 target price on shares of HP in a research note on Thursday, October 4th. Citigroup lifted their price objective on HP to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. ValuEngine lowered HP from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Finally, Susquehanna Bancshares set a $24.00 price objective on HP and gave the stock a “hold” rating in a research report on Friday, August 24th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. HP currently has a consensus rating of “Hold” and an average price target of $27.44.
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.
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