IFM Investors Pty Ltd lifted its position in shares of HP Inc. (NYSE:HPQ) by 50.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,491 shares of the computer maker’s stock after purchasing an additional 57,244 shares during the period. IFM Investors Pty Ltd’s holdings in HP were worth $3,226,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Rothschild & Co Wealth Management UK Ltd acquired a new stake in HP in the second quarter worth $33,000. Transamerica Financial Advisors Inc. bought a new stake in shares of HP during the second quarter worth $38,000. Coastal Capital Group Inc. purchased a new position in shares of HP during the second quarter valued at $39,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of HP during the second quarter valued at $41,000. Finally, Berman Capital Advisors LLC increased its stake in shares of HP by 378.6% during the second quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after buying an additional 1,609 shares during the period. Institutional investors own 79.84% of the company’s stock.
In other news, insider Dion J. Weisler sold 437,171 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.28% of the stock is currently owned by insiders.
Several brokerages have recently commented on HPQ. Loop Capital lowered HP from a “buy” rating to a “hold” rating and cut their price target for the company from $21.00 to $19.00 in a research note on Friday, October 4th. Barclays cut their price target on HP from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday, August 23rd. JPMorgan Chase & Co. set a $19.00 price target on HP and gave the company a “hold” rating in a research note on Friday, August 23rd. Sanford C. Bernstein lowered HP from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research note on Monday, September 9th. Finally, Credit Suisse Group cut their price target on HP from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $19.73.
HPQ opened at $19.57 on Thursday. HP Inc. has a 1 year low of $15.93 and a 1 year high of $25.72. The firm has a market capitalization of $26.67 billion, a PE ratio of 9.69, a price-to-earnings-growth ratio of 3.52 and a beta of 1.41. The business’s 50-day moving average is $17.60 and its two-hundred day moving average is $19.25.
HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, August 22nd. The computer maker reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The business had revenue of $14.60 billion for the quarter, compared to analyst estimates of $14.58 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was up .1% on a year-over-year basis. As a group, research analysts predict 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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