Ethic Inc. Has $4.70 Million Holdings in HP Inc. (NYSE:HPQ)

Ethic Inc. increased its position in HP Inc. (NYSE:HPQ) by 10.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,898 shares of the computer maker’s stock after acquiring an additional 14,006 shares during the quarter. Ethic Inc.’s holdings in HP were worth $4,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of HP during the 4th quarter worth about $229,320,000. KBC Group NV lifted its holdings in shares of HP by 145.1% during the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker’s stock worth $116,031,000 after buying an additional 2,105,104 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of HP in the fourth quarter worth $65,260,000. Northern Trust Corp increased its position in HP by 15.8% during the fourth quarter. Northern Trust Corp now owns 12,844,795 shares of the computer maker’s stock worth $419,126,000 after acquiring an additional 1,755,942 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new position in HP during the 4th quarter valued at $55,915,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Up 0.5 %

Shares of HPQ stock opened at $26.45 on Friday. The company has a market capitalization of $24.93 billion, a P/E ratio of 9.41, a P/E/G ratio of 2.96 and a beta of 1.32. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.80. The firm has a 50-day moving average price of $26.23 and a 200 day moving average price of $31.56.

HP (NYSE:HPQ) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.35 billion. As a group, research analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen decreased their price target on shares of HP from $39.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Morgan Stanley lowered their price target on HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company lifted their price objective on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Loop Capital cut their target price on HP from $35.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, March 4th. Finally, Barclays lifted their price target on shares of HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, HP has an average rating of “Hold” and a consensus target price of $33.83.

Insider Buying and Selling

In other HP news, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

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.