HP Inc. (NYSE:HPQ) Stake Lowered by Haverford Trust Co.

Haverford Trust Co. cut its stake in shares of HP Inc. (NYSE:HPQ) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,227 shares of the computer maker’s stock after selling 1,541 shares during the quarter. Haverford Trust Co.’s holdings in HP were worth $383,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Rothschild & Co Wealth Management UK Ltd bought a new position in shares of HP during the second quarter valued at approximately $33,000. Transamerica Financial Advisors Inc. bought a new position in shares of HP during the second quarter valued at approximately $38,000. Coastal Capital Group Inc. bought a new position in shares of HP during the second quarter valued at approximately $39,000. Redhawk Wealth Advisors Inc. bought a new position in shares of HP during the second quarter valued at approximately $41,000. Finally, Berman Capital Advisors LLC grew its holdings in shares of HP by 378.6% during the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after purchasing an additional 1,609 shares during the last quarter. 79.84% of the stock is owned by institutional investors.

HPQ stock traded up $0.13 on Friday, reaching $19.52. The company’s stock had a trading volume of 21,217,413 shares, compared to its average volume of 11,513,799. The firm has a fifty day moving average of $17.62 and a two-hundred day moving average of $19.24. The company has a market capitalization of $28.47 billion, a P/E ratio of 9.66, a price-to-earnings-growth ratio of 3.60 and a beta of 1.41. HP Inc. has a 52 week low of $15.93 and a 52 week high of $25.49.

HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $14.60 billion during the quarter, compared to analyst estimates of $14.58 billion. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. Research analysts anticipate that HP Inc. will post 2.21 earnings per share for the current fiscal year.

HPQ has been the subject of a number of recent analyst reports. UBS Group lowered HP from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $20.00 in a report on Monday, September 16th. Wells Fargo & Co raised HP to a “market perform” rating and decreased their price objective for the stock from $23.00 to $20.00 in a report on Friday, August 23rd. JPMorgan Chase & Co. set a $19.00 price objective on HP and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley decreased their price objective on HP from $21.00 to $20.00 and set a “weight” rating for the company in a report on Friday, October 4th. Finally, Credit Suisse Group decreased their price objective on HP from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $19.80.

In other HP news, insider Dion J. Weisler sold 437,171 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $18.01, for a total transaction of $7,873,449.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

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.

Read More: What is a dividend reinvestment plan?

Institutional Ownership by Quarter for HP (NYSE:HPQ)

Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.