Cary Street Partners Financial LLC Buys New Stake in HP Inc. (NYSE:HPQ)

Cary Street Partners Financial LLC purchased a new stake in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,526 shares of the computer maker’s stock, valued at approximately $311,000.

A number of other large investors have also modified their holdings of HPQ. Barclays PLC raised its position in shares of HP by 8.7% during the 3rd quarter. Barclays PLC now owns 2,307,573 shares of the computer maker’s stock worth $82,772,000 after purchasing an additional 183,741 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock valued at $41,391,000 after acquiring an additional 160,268 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of HP by 3.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 13,534 shares of the computer maker’s stock valued at $442,000 after acquiring an additional 482 shares in the last quarter. Czech National Bank boosted its stake in shares of HP by 4.8% in the fourth quarter. Czech National Bank now owns 208,954 shares of the computer maker’s stock worth $6,818,000 after acquiring an additional 9,611 shares during the last quarter. Finally, Brookstone Capital Management increased its position in shares of HP by 2.3% during the fourth quarter. Brookstone Capital Management now owns 325,021 shares of the computer maker’s stock worth $10,605,000 after purchasing an additional 7,432 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HPQ. Evercore ISI cut their price objective on shares of HP from $40.00 to $32.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Barclays lifted their price objective on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Wells Fargo & Company upped their target price on HP from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley lowered their price target on shares of HP from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Loop Capital cut their price objective on shares of HP from $35.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.83.

Insider Buying and Selling

In related news, insider Stephanie Liebman sold 15,646 shares of HP stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the completion of the sale, the insider now directly owns 169 shares of the company’s stock, valued at approximately $4,814.81. This represents a 99.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

HP Stock Up 0.5 %

HP stock opened at $26.45 on Friday. The firm has a market capitalization of $24.93 billion, a P/E ratio of 9.41, a PEG ratio of 2.96 and a beta of 1.32. The firm has a fifty day moving average of $26.23 and a 200-day moving average of $31.56. HP Inc. has a 52-week low of $21.21 and a 52-week high of $39.80.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The company had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. On average, research analysts expect that HP Inc. will post 3.56 EPS for the current fiscal year.

HP 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.