US Bancorp DE Sells 12,187 Shares of HP Inc. (HPQ)

US Bancorp DE reduced its holdings in HP Inc. (NYSE:HPQ) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 533,997 shares of the computer maker’s stock after selling 12,187 shares during the period. US Bancorp DE’s holdings in HP were worth $13,761,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HPQ. IFM Investors Pty Ltd grew its position in shares of HP by 38.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 74,078 shares of the computer maker’s stock valued at $1,681,000 after acquiring an additional 20,669 shares during the period. Fulton Bank N.A. grew its position in shares of HP by 8.7% in the 2nd quarter. Fulton Bank N.A. now owns 62,599 shares of the computer maker’s stock valued at $1,420,000 after acquiring an additional 5,034 shares during the period. State of Alaska Department of Revenue grew its position in shares of HP by 20.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 251,069 shares of the computer maker’s stock valued at $5,695,000 after acquiring an additional 42,170 shares during the period. Investment House LLC grew its position in shares of HP by 23.1% in the 2nd quarter. Investment House LLC now owns 65,200 shares of the computer maker’s stock valued at $1,479,000 after acquiring an additional 12,225 shares during the period. Finally, Xact Kapitalforvaltning AB grew its position in shares of HP by 1.4% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 303,778 shares of the computer maker’s stock valued at $6,893,000 after acquiring an additional 4,305 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

A number of brokerages have recently commented on HPQ. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Tuesday, July 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $22.00 target price on shares of HP in a report on Thursday, October 4th. Citigroup lifted their target price on shares of HP to $30.00 and gave the stock a “buy” rating in a report on Friday, August 24th. ValuEngine downgraded shares of HP from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Susquehanna Bancshares set a $24.00 target price on shares of HP and gave the stock a “hold” rating in a report on Friday, August 24th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $27.44.

Shares of HP stock opened at $25.47 on Thursday. HP Inc. has a twelve month low of $19.31 and a twelve month high of $27.08. The stock has a market capitalization of $39.37 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.50.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. HP had a net margin of 7.95% and a negative return on equity of 130.47%. The business had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $14.29 billion. During the same quarter in the previous year, the company earned $0.43 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Equities analysts expect that HP Inc. will post 2.02 earnings per share for the current fiscal year.

In other news, COO Catherine A. Lesjak sold 693,594 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $25.78, for a total value of $17,880,853.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dion J. Weisler sold 86,389 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the completion of the transaction, the insider now owns 815,945 shares of the company’s stock, valued at $20,235,436. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.

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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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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