Zurcher Kantonalbank Zurich Cantonalbank Sells 972,889 Shares of HP Inc. (NYSE:HPQ)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in HP Inc. (NYSE:HPQ - Free Report) by 80.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HPQ. State Street Corp raised its stake in shares of HP by 8.2% in the third 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 period. Geode Capital Management LLC raised its stake in shares of HP by 11.1% in the third quarter. Geode Capital Management LLC now owns 24,770,491 shares of the computer maker's stock valued at $885,877,000 after buying an additional 2,477,977 shares during the period. KBC Group NV raised its stake in shares of HP by 145.1% in the fourth quarter. KBC Group NV now owns 3,555,989 shares of the computer maker's stock valued at $116,031,000 after buying an additional 2,105,104 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of HP in the fourth quarter valued at $65,260,000. Finally, Pacer Advisors Inc. grew its position in shares of HP by 11.4% in the third quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker's stock valued at $508,791,000 after purchasing an additional 1,455,138 shares in the last quarter. 77.53% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research report on Friday, February 28th. Wells Fargo & Company lifted their price target on HP from $30.00 to $35.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. StockNews.com cut HP from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Loop Capital reduced their price target on HP from $35.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, March 4th. Finally, Hsbc Global Res cut HP from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $36.14.

HP Stock Performance

HP stock traded up $0.50 during midday trading on Monday, hitting $28.91. 6,395,143 shares of the company's stock were exchanged, compared to its average volume of 7,123,775. The stock has a 50-day moving average price of $32.36 and a two-hundred day moving average price of $34.41. HP Inc. has a 52-week low of $27.43 and a 52-week high of $39.80. The company has a market cap of $27.25 billion, a P/E ratio of 10.29, a PEG ratio of 2.96 and a beta of 1.09.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, meeting analysts' consensus estimates of $0.74. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The company had revenue of $13.50 billion during the quarter, compared to analyst estimates of $13.35 billion. As a group, sell-side analysts expect that HP Inc. will post 3.56 earnings per share for the current year.

HP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.2894 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, March 12th. HP's dividend payout ratio (DPR) is presently 41.37%.

Insider Activity

In other HP news, insider Stephanie Liebman sold 11,000 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total transaction of $357,500.00. Following the completion of the transaction, the insider now owns 6,277 shares of the company's stock, valued at $204,002.50. This represents a 63.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.38% of the stock is currently owned by corporate insiders.

HP 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.