Parallel Advisors LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 11.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,623 shares of the computer maker’s stock after selling 1,418 shares during the period. Parallel Advisors LLC’s holdings in HP were worth $201,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Valeo Financial Advisors LLC grew its stake in HP by 4.2% during the second quarter. Valeo Financial Advisors LLC now owns 12,516 shares of the computer maker’s stock worth $260,000 after buying an additional 502 shares in the last quarter. PagnatoKarp Partners LLC lifted its holdings in shares of HP by 4.4% in the second quarter. PagnatoKarp Partners LLC now owns 14,284 shares of the computer maker’s stock worth $299,000 after acquiring an additional 599 shares during the last quarter. Cornerstone Advisors Inc. lifted its holdings in shares of HP by 7.8% in the second quarter. Cornerstone Advisors Inc. now owns 8,719 shares of the computer maker’s stock worth $181,000 after acquiring an additional 632 shares during the last quarter. Montecito Bank & Trust lifted its holdings in shares of HP by 2.8% in the third quarter. Montecito Bank & Trust now owns 24,655 shares of the computer maker’s stock worth $467,000 after acquiring an additional 676 shares during the last quarter. Finally, Kanawha Capital Management LLC lifted its holdings in shares of HP by 4.7% in the second quarter. Kanawha Capital Management LLC now owns 15,356 shares of the computer maker’s stock worth $319,000 after acquiring an additional 695 shares during the last quarter. Hedge funds and other institutional investors own 79.84% of the company’s stock.
A number of research analysts have recently commented on HPQ shares. Barclays dropped their target price on shares of HP from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd. Bank of America dropped their target price on shares of HP from $17.00 to $16.00 and set an “underperform” rating for the company in a report on Friday, October 4th. Citigroup set a $20.00 target price on shares of HP and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley dropped their target price on shares of HP from $21.00 to $20.00 and set a “weight” rating for the company in a report on Friday, October 4th. Finally, UBS Group cut shares of HP from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $20.00 in a report on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $19.80.
NYSE HPQ traded up $0.13 during trading hours on Friday, reaching $19.52. The company’s stock had a trading volume of 21,217,413 shares, compared to its average volume of 11,513,799. The firm has a fifty day simple moving average of $17.62 and a 200-day simple moving average of $19.24. The stock has a market cap of $28.47 billion, a P/E ratio of 9.66, a P/E/G ratio of 3.60 and a beta of 1.41. HP Inc. has a 52 week low of $15.93 and a 52 week high of $25.49.
HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The business had revenue of $14.60 billion during the quarter, compared to analyst estimates of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. On average, sell-side analysts expect that HP Inc. will post 2.21 earnings per share for the current year.
In related news, insider Dion J. Weisler sold 437,171 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.
HP Company 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.
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