Clifford Swan Investment Counsel LLC Has $23.90 Million Stake in HP Inc. (NYSE:HPQ)

Clifford Swan Investment Counsel LLC reduced its stake in HP Inc. (NYSE:HPQ) by 0.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 794,221 shares of the computer maker’s stock after selling 747 shares during the quarter. HP makes up 0.9% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 28th largest holding. Clifford Swan Investment Counsel LLC owned approximately 0.08% of HP worth $23,898,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in HPQ. Vanguard Group Inc. raised its holdings in HP by 12.3% in the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares during the period. Pacer Advisors Inc. increased its stake in shares of HP by 4,180.9% in the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock worth $286,352,000 after purchasing an additional 9,294,209 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of HP by 145.9% in the third quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock worth $156,535,000 after purchasing an additional 3,613,742 shares during the period. Hsbc Holdings PLC lifted its position in shares of HP by 104.6% during the 3rd quarter. Hsbc Holdings PLC now owns 4,352,558 shares of the computer maker’s stock worth $112,014,000 after purchasing an additional 2,225,530 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in HP during the 3rd quarter valued at approximately $54,302,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Up 0.9 %

HPQ traded up $0.24 during trading on Friday, reaching $28.18. 6,648,423 shares of the company’s stock were exchanged, compared to its average volume of 6,200,519. HP Inc. has a fifty-two week low of $25.22 and a fifty-two week high of $33.90. The company has a market capitalization of $27.64 billion, a P/E ratio of 8.24, a PEG ratio of 2.36 and a beta of 1.06. The business has a 50 day moving average price of $29.20 and a 200 day moving average price of $28.92.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting the consensus estimate of $0.81. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The business had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was down 4.4% on a year-over-year basis. As a group, research analysts forecast that HP Inc. will post 3.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HPQ. Barclays upped their price target on HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. StockNews.com cut shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.11.

Insider Transactions at HP

In related news, insider Kristen M. Ludgate sold 41,015 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total value of $1,199,278.60. Following the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the sale, the insider now owns 56,169 shares of the company’s stock, valued at approximately $1,642,381.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,723 shares of company stock valued at $3,479,287. Corporate insiders own 0.41% of the company’s stock.

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.