Toronto Dominion Bank Decreases Stock Position in HP Inc. (NYSE:HPQ)

Toronto Dominion Bank lessened its stake in shares of HP Inc. (NYSE:HPQ) by 18.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 889,644 shares of the computer maker’s stock after selling 197,987 shares during the period. Toronto Dominion Bank owned approximately 0.06% of HP worth $18,491,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Atria Investments LLC raised its holdings in HP by 1.8% during the 2nd quarter. Atria Investments LLC now owns 68,155 shares of the computer maker’s stock valued at $1,312,000 after buying an additional 1,174 shares during the period. Transamerica Financial Advisors Inc. purchased a new stake in HP during the 2nd quarter valued at $38,000. Kanawha Capital Management LLC raised its holdings in HP by 4.7% during the 2nd quarter. Kanawha Capital Management LLC now owns 15,356 shares of the computer maker’s stock valued at $319,000 after buying an additional 695 shares during the period. NewSquare Capital LLC raised its holdings in HP by 6.7% during the 2nd quarter. NewSquare Capital LLC now owns 89,420 shares of the computer maker’s stock valued at $1,859,000 after buying an additional 5,602 shares during the period. Finally, Cresset Asset Management LLC raised its holdings in HP by 574.5% during the 2nd quarter. Cresset Asset Management LLC now owns 12,586 shares of the computer maker’s stock valued at $262,000 after buying an additional 10,720 shares during the period. Institutional investors own 79.71% of the company’s stock.

In related news, insider Dion J. Weisler sold 437,171 shares of the firm’s stock in a transaction dated 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 filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

HPQ has been the topic of several recent research reports. Credit Suisse Group decreased their price target on HP from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday. Morgan Stanley reduced their target price on HP from $21.00 to $20.00 and set a “weight” rating on the stock in a research note on Friday. Citigroup set a $20.00 target price on HP and gave the stock a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. set a $19.00 target price on HP and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, ValuEngine upgraded HP from a “sell” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company’s stock. HP currently has an average rating of “Hold” and a consensus price target of $21.39.

Shares of HPQ traded down $1.71 during midday trading on Friday, reaching $16.69. 1,313,098 shares of the stock were exchanged, compared to its average volume of 12,065,181. HP Inc. has a 52 week low of $17.10 and a 52 week high of $27.08. The company’s 50 day moving average is $18.62 and its two-hundred day moving average is $19.70. The company has a market capitalization of $27.55 billion, a P/E ratio of 8.29, a PEG ratio of 2.62 and a beta of 1.42.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The business had revenue of $14.60 billion for the quarter, compared to the consensus estimate of $14.58 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue was up .1% compared to the same quarter last year. Analysts forecast that HP Inc. will post 2.21 earnings per share for the current fiscal year.

HP Company 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.

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