Summit Trail Advisors LLC Cuts Stock Position in HP Inc. (NYSE:HPQ)

Summit Trail Advisors LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 33.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,877 shares of the computer maker’s stock after selling 3,431 shares during the quarter. Summit Trail Advisors LLC’s holdings in HP were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HPQ. Rosenberg Matthew Hamilton lifted its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after acquiring an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of HP in the fourth quarter worth approximately $28,000. Janiczek Wealth Management LLC increased its stake in shares of HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in HP during the 4th quarter valued at $34,000. Finally, Salem Investment Counselors Inc. boosted its position in HP by 47.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after buying an additional 380 shares during the period. Institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

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

HP Stock Up 3.6 %

HP stock opened at $29.44 on Thursday. The stock’s 50 day moving average is $29.18 and its 200 day moving average is $28.95. The company has a market capitalization of $28.87 billion, a P/E ratio of 8.61, a PEG ratio of 2.36 and a beta of 1.06. HP Inc. has a twelve month low of $25.22 and a twelve month high of $33.90.

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

Insiders Place Their Bets

In other news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the sale, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. 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. Insiders own 0.41% of the company’s stock.

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.