Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in HP Inc. (NYSE:HPQ)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of HP Inc. (NYSE:HPQ) by 80.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,890 shares of the computer maker’s stock after selling 972,889 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HP were worth $7,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in HP by 8.2% in the 3rd quarter. State Street Corp now owns 51,801,428 shares of the computer maker’s stock valued at $1,871,046,000 after buying an additional 3,923,161 shares during the last quarter. Geode Capital Management LLC boosted its position in HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker’s stock worth $885,877,000 after purchasing an additional 2,477,977 shares during the last quarter. Pacer Advisors Inc. grew its stake in HP by 4.2% in the 4th quarter. Pacer Advisors Inc. now owns 14,776,697 shares of the computer maker’s stock valued at $482,164,000 after purchasing an additional 592,391 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in HP by 7.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,581,422 shares of the computer maker’s stock valued at $307,816,000 after purchasing an additional 612,675 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of HP by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,833,728 shares of the computer maker’s stock valued at $222,985,000 after purchasing an additional 90,606 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Trading Down 2.1 %

HPQ stock opened at $27.87 on Friday. The firm has a 50 day moving average of $32.45 and a 200-day moving average of $34.47. The firm has a market capitalization of $26.27 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 2.96 and a beta of 1.09. HP Inc. has a 12 month low of $27.43 and a 12 month high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The firm had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. Sell-side analysts predict that HP Inc. will post 3.56 EPS for the current year.

HP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.2894 per share. This represents a $1.16 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Wednesday, March 12th. HP’s payout ratio is 41.37%.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 11,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays increased their price target on shares of HP from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Loop Capital decreased their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. TD Cowen reduced their price objective on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Finally, StockNews.com lowered HP from a “buy” rating to a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, HP presently has an average rating of “Hold” and an average target price of $36.14.

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.