First National Trust Co Cuts Stock Position in HP Inc. (NYSE:HPQ)

First National Trust Co lessened its stake in shares of HP Inc. (NYSE:HPQ) by 29.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,540 shares of the computer maker’s stock after selling 4,778 shares during the period. First National Trust Co’s holdings in HP were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Resources Capital Management LLC purchased a new position in shares of HP during the 4th quarter worth $68,000. Amalgamated Bank boosted its stake in shares of HP by 9.0% in the 4th quarter. Amalgamated Bank now owns 257,648 shares of the computer maker’s stock valued at $7,753,000 after buying an additional 21,288 shares during the period. Summit Global Investments purchased a new position in HP in the fourth quarter worth approximately $236,000. Commonwealth Equity Services LLC grew its stake in shares of HP by 0.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 902,790 shares of the computer maker’s stock worth $27,165,000 after purchasing an additional 8,408 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in shares of HP by 1.8% in the 4th quarter. First Horizon Advisors Inc. now owns 550,059 shares of the computer maker’s stock valued at $16,551,000 after acquiring an additional 9,956 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction that occurred on 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 transaction, the director now directly owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,723 shares of company stock valued at $3,479,287. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

HP Stock Up 0.6 %

Shares of NYSE:HPQ opened at $28.35 on Monday. The company has a market cap of $27.80 billion, a P/E ratio of 8.24, a PEG ratio of 2.36 and a beta of 1.06. HP Inc. has a 52 week low of $25.22 and a 52 week high of $33.90. The company has a 50-day moving average price of $29.20 and a 200 day moving average price of $28.92.

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

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.