Gateway Investment Advisers LLC decreased its position in HP Inc. (NYSE:HPQ) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 236,103 shares of the computer maker’s stock after selling 7,480 shares during the period. Gateway Investment Advisers LLC’s holdings in HP were worth $6,084,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Andra AP fonden grew its stake in HP by 1.6% in the 3rd quarter. Andra AP fonden now owns 456,900 shares of the computer maker’s stock valued at $11,774,000 after buying an additional 7,200 shares during the last quarter. First Hawaiian Bank acquired a new position in HP in the 3rd quarter valued at $2,270,000. Retirement Capital Strategies grew its stake in HP by 24.0% in the 3rd quarter. Retirement Capital Strategies now owns 31,222 shares of the computer maker’s stock valued at $805,000 after buying an additional 6,050 shares during the last quarter. Weybosset Research & Management LLC grew its stake in HP by 1.8% in the 3rd quarter. Weybosset Research & Management LLC now owns 296,801 shares of the computer maker’s stock valued at $7,649,000 after buying an additional 5,126 shares during the last quarter. Finally, Montecito Bank & Trust grew its stake in HP by 26.5% in the 3rd quarter. Montecito Bank & Trust now owns 21,990 shares of the computer maker’s stock valued at $567,000 after buying an additional 4,612 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.
In related news, insider Dion J. Weisler sold 86,389 shares of HP stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $24.80, for a total transaction of $2,142,447.20. Following the transaction, the insider now owns 815,945 shares of the company’s stock, valued at approximately $20,235,436. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Catherine A. Lesjak sold 693,594 shares of HP stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $25.78, for a total transaction of $17,880,853.32. The disclosure for this sale can be found here. 0.25% of the stock is owned by insiders.
HPQ has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of HP from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Maxim Group increased their price target on shares of HP from $29.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, October 4th. ValuEngine raised shares of HP from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Deutsche Bank raised their price objective on shares of HP from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, Citigroup raised their price objective on shares of HP to $30.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. HP presently has an average rating of “Hold” and a consensus target price of $27.44.
HPQ traded down $0.50 during midday trading on Friday, hitting $25.00. The company had a trading volume of 7,046,588 shares, compared to its average volume of 9,982,002. The stock has a market capitalization of $40.30 billion, a PE ratio of 15.15, a PEG ratio of 1.63 and a beta of 1.50. HP Inc. has a twelve month low of $19.31 and a twelve month high of $27.08.
HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The firm had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $14.29 billion. HP had a net margin of 7.95% and a negative return on equity of 130.47%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. On average, sell-side analysts expect that HP Inc. will post 2.02 EPS for the current fiscal year.
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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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