Investment House LLC lowered its stake in shares of HP Inc. (NYSE:HPQ – Get Rating) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 244,108 shares of the computer maker’s stock after selling 4,963 shares during the period. Investment House LLC’s holdings in HP were worth $6,559,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. US Asset Management LLC acquired a new position in HP during the fourth quarter worth $275,000. Commonwealth Equity Services LLC raised its position in HP by 0.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 877,209 shares of the computer maker’s stock valued at $23,570,000 after purchasing an additional 2,766 shares during the period. Bleakley Financial Group LLC purchased a new stake in HP in the fourth quarter valued at $569,000. Metis Global Partners LLC raised its position in HP by 35.4% in the fourth quarter. Metis Global Partners LLC now owns 43,529 shares of the computer maker’s stock valued at $1,170,000 after purchasing an additional 11,373 shares during the period. Finally, Handelsbanken Fonder AB raised its position in HP by 1.9% in the fourth quarter. Handelsbanken Fonder AB now owns 360,524 shares of the computer maker’s stock valued at $9,687,000 after purchasing an additional 6,727 shares during the period. Institutional investors and hedge funds own 79.68% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on HPQ shares. StockNews.com started coverage on HP in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. TheStreet downgraded HP from a “b-” rating to a “c+” rating in a research report on Tuesday, February 28th. Morgan Stanley upgraded HP from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $28.00 to $31.00 in a report on Monday. Bank of America cut their price objective on HP from $27.00 to $26.00 in a report on Wednesday, March 1st. Finally, The Goldman Sachs Group began coverage on HP in a report on Monday, March 20th. They issued a “neutral” rating and a $26.00 price objective on the stock. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, HP has a consensus rating of “Hold” and a consensus price target of $29.69.
HP Stock Down 0.8 %
NYSE HPQ traded down $0.23 during trading hours on Tuesday, hitting $29.73. 2,006,988 shares of the company were exchanged, compared to its average volume of 6,114,073. The company has a 50 day moving average of $28.97 and a two-hundred day moving average of $28.59. HP Inc. has a 52-week low of $24.08 and a 52-week high of $40.79. The firm has a market cap of $29.29 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 3.29 and a beta of 1.00.
HP (NYSE:HPQ – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The computer maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $13.83 billion during the quarter, compared to analysts’ expectations of $14.17 billion. HP had a negative return on equity of 141.20% and a net margin of 4.36%. The business’s quarterly revenue was down 18.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.10 EPS. On average, equities research analysts predict that HP Inc. will post 3.3 EPS for the current year.
Insider Transactions at HP
In other news, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $29.87, for a total transaction of $220,440.60. Following the completion of the transaction, the chief financial officer now directly owns 22,648 shares of the company’s stock, valued at approximately $676,495.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Enrique Lores sold 38,000 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $29.51, for a total value of $1,121,380.00. Following the completion of the sale, the chief executive officer now directly owns 766,268 shares of the company’s stock, valued at approximately $22,612,568.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marie Myers sold 7,380 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $29.87, for a total value of $220,440.60. Following the completion of the sale, the chief financial officer now directly owns 22,648 shares of the company’s stock, valued at $676,495.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,925 shares of company stock valued at $1,678,337. 0.32% of the stock is currently owned by corporate 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.