SG Americas Securities LLC increased its stake in shares of HP Inc. (NYSE:HPQ) by 12.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 312,292 shares of the computer maker’s stock after purchasing an additional 33,480 shares during the period. SG Americas Securities LLC’s holdings in HP were worth $5,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of HPQ. Nuveen Asset Management LLC raised its position in HP by 645.3% in the second quarter. Nuveen Asset Management LLC now owns 7,674,530 shares of the computer maker’s stock worth $159,553,000 after acquiring an additional 6,644,860 shares in the last quarter. DNB Asset Management AS increased its position in shares of HP by 73.2% in the third quarter. DNB Asset Management AS now owns 8,598,374 shares of the computer maker’s stock valued at $162,681,000 after buying an additional 3,632,640 shares in the last quarter. Morgan Stanley increased its position in shares of HP by 12.5% in the second quarter. Morgan Stanley now owns 10,247,972 shares of the computer maker’s stock valued at $213,054,000 after buying an additional 1,142,355 shares in the last quarter. Railway Pension Investments Ltd purchased a new position in shares of HP in the third quarter valued at $21,092,000. Finally, Parametric Portfolio Associates LLC increased its position in shares of HP by 17.6% in the second quarter. Parametric Portfolio Associates LLC now owns 6,211,944 shares of the computer maker’s stock valued at $129,146,000 after buying an additional 927,847 shares in the last quarter. 79.84% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on the company. Argus cut HP from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Bank of America dropped their price target on HP from $17.00 to $16.00 and set an “underperform” rating for the company in a research report on Friday, October 4th. Goldman Sachs Group cut HP from a “neutral” rating to a “sell” rating and dropped their price target for the company from $18.00 to $14.00 in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on HP from $21.00 to $20.00 and set a “weight” rating for the company in a research report on Friday, October 4th. Finally, Zacks Investment Research cut HP from a “hold” rating to a “sell” rating and set a $21.00 price target for the company. in a research report on Thursday. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. HP currently has a consensus rating of “Hold” and an average price target of $19.80.
In related news, insider Dion J. Weisler sold 437,171 shares of HP stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $18.01, for a total transaction of $7,873,449.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.
HP stock traded up $0.13 during midday trading on Friday, reaching $19.52. 21,217,413 shares of the company were exchanged, compared to its average volume of 11,513,799. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of 9.66, a P/E/G ratio of 3.60 and a beta of 1.41. The firm’s 50-day simple moving average is $17.62 and its 200-day simple moving average is $19.24. HP Inc. has a 1 year low of $15.93 and a 1 year high of $25.49.
HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $14.60 billion during the quarter, compared to analysts’ expectations of $14.58 billion. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. On average, sell-side analysts expect that HP Inc. will post 2.21 earnings per share for the current fiscal year.
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.
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