Charles Schwab Investment Management Inc. Acquires 232,515 Shares of HP Inc. (NYSE:HPQ)

Charles Schwab Investment Management Inc. raised its stake in shares of HP Inc. (NYSE:HPQ) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 5,771,103 shares of the computer maker’s stock after purchasing an additional 232,515 shares during the period. Charles Schwab Investment Management Inc.’s holdings in HP were worth $173,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HPQ. California Public Employees Retirement System lifted its position in HP by 3.9% during the third quarter. California Public Employees Retirement System now owns 2,966,113 shares of the computer maker’s stock valued at $76,229,000 after acquiring an additional 112,427 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of HP by 23.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,204 shares of the computer maker’s stock worth $545,000 after purchasing an additional 4,054 shares in the last quarter. Alaska Permanent Fund Corp grew its stake in HP by 1.4% during the 4th quarter. Alaska Permanent Fund Corp now owns 79,291 shares of the computer maker’s stock worth $2,386,000 after buying an additional 1,091 shares during the last quarter. Wealthfront Advisers LLC grew its stake in HP by 8.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 62,575 shares of the computer maker’s stock worth $1,608,000 after buying an additional 5,064 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in HP by 87.9% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 765,799 shares of the computer maker’s stock valued at $22,960,000 after buying an additional 358,231 shares in the last quarter. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Trading Up 0.7 %

HPQ opened at $29.65 on Friday. The firm has a 50 day moving average of $29.20 and a two-hundred day moving average of $28.95. The firm has a market capitalization of $29.08 billion, a PE ratio of 8.67, a P/E/G ratio of 2.36 and a beta of 1.06. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $13.56 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s revenue was down 4.4% compared to the same quarter last year. As a group, analysts predict that HP Inc. will post 3.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays raised their price target on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, HSBC raised shares of 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.11.

Insider Activity

In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other HP news, Director Robert R. Bennett sold 67,000 shares of the company’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 completion of the transaction, the director now owns 60,216 shares in the company, valued at $1,807,082.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction dated 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 $1,642,381.56. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock valued at $3,479,287 in the last quarter. 0.41% of the stock is currently owned by company 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.