Northern Trust Corp Purchases 1,755,942 Shares of HP Inc. (NYSE:HPQ)

Northern Trust Corp lifted its stake in HP Inc. (NYSE:HPQ - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,844,795 shares of the computer maker's stock after purchasing an additional 1,755,942 shares during the quarter. Northern Trust Corp owned 1.37% of HP worth $419,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in shares of HP in the fourth quarter worth approximately $26,000. Stonebridge Financial Group LLC purchased a new position in HP during the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of HP during the fourth quarter worth approximately $36,000. OFI Invest Asset Management bought a new stake in shares of HP in the 4th quarter valued at about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in HP during the fourth quarter valued at about $50,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Up 2.2 %

NYSE HPQ traded up $0.57 during trading hours on Friday, hitting $25.96. The company's stock had a trading volume of 5,645,989 shares, compared to its average volume of 7,846,334. The firm has a market capitalization of $24.47 billion, a P/E ratio of 9.24, a PEG ratio of 2.96 and a beta of 1.09. HP Inc. has a twelve month low of $21.21 and a twelve month high of $39.80. The stock has a fifty day moving average of $26.77 and a 200 day moving average of $31.97.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analysts' expectations of $13.35 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. On average, analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HPQ shares. Barclays boosted their price target on HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. TD Cowen cut their price target on HP from $39.00 to $38.00 and set a "hold" rating for the company in a report on Friday, February 28th. StockNews.com cut shares of HP from a "buy" rating to a "hold" rating in a research report on Tuesday, April 8th. Sanford C. Bernstein increased their price objective on HP from $32.00 to $34.00 and gave the company a "market perform" rating in a research note on Friday, January 3rd. Finally, Loop Capital cut their target price on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, HP currently has an average rating of "Hold" and an average price target of $33.83.

Insider Activity at HP

In related news, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the transaction, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.