HP Inc. (NYSE:HPQ) Shares Acquired by Farmers Trust Co.

Farmers Trust Co. increased its stake in HP Inc. (NYSE:HPQ) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,754 shares of the computer maker’s stock after acquiring an additional 1,964 shares during the period. Farmers Trust Co.’s holdings in HP were worth $4,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of HP by 2.1% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 11,469,669 shares of the computer maker’s stock worth $238,454,000 after purchasing an additional 240,758 shares during the last quarter. Morgan Stanley lifted its position in HP by 12.5% in the second quarter. Morgan Stanley now owns 10,247,972 shares of the computer maker’s stock valued at $213,054,000 after purchasing an additional 1,142,355 shares during the period. Charles Schwab Investment Management Inc. lifted its position in HP by 6.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 8,850,451 shares of the computer maker’s stock valued at $184,001,000 after purchasing an additional 516,302 shares during the period. DNB Asset Management AS lifted its position in HP by 73.2% in the third quarter. DNB Asset Management AS now owns 8,598,374 shares of the computer maker’s stock valued at $162,681,000 after purchasing an additional 3,632,640 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in HP by 645.3% in the second quarter. Nuveen Asset Management LLC now owns 7,674,530 shares of the computer maker’s stock valued at $159,553,000 after purchasing an additional 6,644,860 shares during the period. Institutional investors and hedge funds own 79.63% of the company’s stock.

HPQ stock opened at $17.12 on Friday. The firm has a 50 day moving average of $17.89 and a 200-day moving average of $19.40. HP Inc. has a 12-month low of $15.93 and a 12-month high of $25.72. The company has a market cap of $25.37 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 3.39 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, beating the Zacks’ consensus estimate of $0.55 by $0.03. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The company had revenue of $14.60 billion during the quarter, compared to the consensus estimate of $14.58 billion. During the same period last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities research analysts expect that HP Inc. will post 2.21 earnings per share for the current year.

In other news, insider Dion J. Weisler sold 437,171 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.

A number of brokerages recently commented on HPQ. Goldman Sachs Group downgraded shares of HP from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $18.00 to $14.00 in a research report on Thursday, October 10th. UBS Group downgraded shares of HP from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $20.00 in a research report on Monday, September 16th. Sanford C. Bernstein downgraded shares of HP from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research report on Monday, September 9th. Argus downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Co upgraded shares of HP to a “market perform” rating and reduced their price objective for the company from $23.00 to $20.00 in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $19.73.

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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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