Zurcher Kantonalbank Zurich Cantonalbank Acquires 528,627 Shares of HP Inc. (NYSE:HPQ)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in HP Inc. (NYSE:HPQ) by 293.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 708,889 shares of the computer maker’s stock after purchasing an additional 528,627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of HP worth $24,825,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Whittier Trust Co. increased its stake in shares of HP by 1.6% in the second quarter. Whittier Trust Co. now owns 25,776 shares of the computer maker’s stock worth $903,000 after purchasing an additional 402 shares during the period. HB Wealth Management LLC increased its stake in HP by 3.9% during the second quarter. HB Wealth Management LLC now owns 56,496 shares of the computer maker’s stock valued at $1,979,000 after acquiring an additional 2,143 shares during the period. Checchi Capital Advisers LLC increased its stake in HP by 6.0% during the second quarter. Checchi Capital Advisers LLC now owns 13,845 shares of the computer maker’s stock valued at $485,000 after acquiring an additional 785 shares during the period. Klein Pavlis & Peasley Financial Inc. increased its stake in HP by 2.1% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 87,042 shares of the computer maker’s stock valued at $3,048,000 after acquiring an additional 1,795 shares during the period. Finally, Eagle Bay Advisors LLC increased its stake in HP by 41.8% during the second quarter. Eagle Bay Advisors LLC now owns 5,125 shares of the computer maker’s stock valued at $181,000 after acquiring an additional 1,510 shares during the period. 77.53% of the stock is currently owned by institutional investors.

HP Stock Up 2.0 %

NYSE:HPQ traded up $0.70 during trading hours on Thursday, hitting $35.46. 18,652,782 shares of the stock were exchanged, compared to its average volume of 7,861,455. The company’s 50 day moving average is $35.49 and its two-hundred day moving average is $32.36. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52. The company has a market capitalization of $34.70 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.09.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 230.39% and a net margin of 5.60%. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that HP Inc. will post 3.45 EPS for the current year.

HP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be paid a $0.2756 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, September 11th. HP’s dividend payout ratio (DPR) is currently 37.16%.

Analyst Ratings Changes

Several brokerages recently issued reports on HPQ. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday. Morgan Stanley lowered their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday. TD Cowen boosted their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Citigroup boosted their price target on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Finally, UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, HP presently has an average rating of “Hold” and a consensus target price of $35.09.

Insider Activity

In other news, insider Alex Cho sold 173,137 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is currently owned by company 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.