Fisher Asset Management LLC Makes New Investment in HP Inc. (NYSE:HPQ)

Fisher Asset Management LLC purchased a new stake in HP Inc. (NYSE:HPQ) in the fourth quarter, Holdings Channel reports. The firm purchased 16,553 shares of the computer maker’s stock, valued at approximately $498,000.

Several other large investors have also recently added to or reduced their stakes in HPQ. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of HP by 6.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 90,200 shares of the computer maker’s stock valued at $2,318,000 after buying an additional 5,750 shares during the period. Raymond James & Associates boosted its stake in HP by 18.7% in the third quarter. Raymond James & Associates now owns 227,556 shares of the computer maker’s stock valued at $5,848,000 after acquiring an additional 35,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of HP by 6.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,404 shares of the computer maker’s stock valued at $4,559,000 after purchasing an additional 10,852 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of HP by 15.3% in the 3rd quarter. Mackenzie Financial Corp now owns 93,736 shares of the computer maker’s stock worth $2,449,000 after purchasing an additional 12,417 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in HP by 12.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 262,099 shares of the computer maker’s stock valued at $6,736,000 after purchasing an additional 29,133 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Robert R. Bennett sold 67,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other HP news, insider Stephanie Liebman sold 8,708 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares in the company, valued at $1,807,082.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is currently owned by insiders.

HP Stock Up 0.3 %

Shares of NYSE:HPQ opened at $29.73 on Friday. The firm has a fifty day moving average of $29.22 and a two-hundred day moving average of $28.96. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90. The firm has a market capitalization of $29.15 billion, a P/E ratio of 8.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.06.

HP (NYSE:HPQ) last posted its earnings results on Wednesday, February 28th. The computer maker reported $0.81 EPS for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Equities research analysts expect that HP Inc. will post 3.42 earnings per share for the current fiscal year.

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.