MAI Capital Management raised its stake in shares of HP Inc. (NYSE:HPQ) by 16.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,542 shares of the computer maker’s stock after purchasing an additional 2,348 shares during the quarter. MAI Capital Management’s holdings in HP were worth $375,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of HPQ. Rockefeller Capital Management L.P. acquired a new stake in shares of HP in the first quarter worth $106,000. CSat Investment Advisory L.P. acquired a new stake in shares of HP in the second quarter worth $113,000. NuWave Investment Management LLC acquired a new stake in shares of HP in the second quarter worth $116,000. Institutional & Family Asset Management LLC acquired a new stake in shares of HP in the first quarter worth $118,000. Finally, Summit Trail Advisors LLC increased its stake in shares of HP by 2,106.3% in the first quarter. Summit Trail Advisors LLC now owns 161,547 shares of the computer maker’s stock worth $162,000 after acquiring an additional 154,225 shares during the period. Institutional investors and hedge funds own 79.67% of the company’s stock.
HPQ stock traded up $0.66 during midday trading on Friday, hitting $23.67. 11,813,881 shares of the stock traded hands, compared to its average volume of 9,064,637. The firm has a market cap of $40.78 billion, a PE ratio of 14.35, a P/E/G ratio of 1.96 and a beta of 1.64. The company has a debt-to-equity ratio of -2.55, a quick ratio of 0.61 and a current ratio of 0.85. HP Inc. has a 1-year low of $19.31 and a 1-year high of $27.08.
HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. HP had a net margin of 7.95% and a negative return on equity of 130.47%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. Research analysts predict that HP Inc. will post 2.02 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on HPQ. Deutsche Bank increased their price objective on shares of HP from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. ValuEngine upgraded shares of HP from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Argus reiterated a “buy” rating on shares of HP in a research note on Monday, October 8th. Wells Fargo & Co increased their price objective on shares of HP from $21.00 to $26.00 and gave the stock a “market perform” rating in a research note on Friday, August 24th. Finally, Morgan Stanley raised their price target on shares of HP from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, August 24th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $27.44.
In other HP news, COO Catherine A. Lesjak sold 693,594 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $25.78, for a total transaction of $17,880,853.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.
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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