Boston Private Wealth LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,497 shares of the computer maker’s stock after selling 9,090 shares during the quarter. Boston Private Wealth LLC’s holdings in HP were worth $1,012,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Rothschild & Co Wealth Management UK Ltd acquired a new stake in shares of HP during the second quarter valued at about $33,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of HP during the second quarter valued at about $38,000. Coastal Capital Group Inc. acquired a new stake in shares of HP during the second quarter valued at about $39,000. Redhawk Wealth Advisors Inc. bought a new position in shares of HP during the second quarter worth about $41,000. Finally, Berman Capital Advisors LLC raised its position 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 worth $42,000 after acquiring an additional 1,609 shares during the last quarter. 79.84% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on HPQ. JPMorgan Chase & Co. set a $19.00 price objective on HP and gave the stock a “hold” rating in a research report on Friday, August 23rd. Goldman Sachs Group downgraded HP from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $18.00 to $14.00 in a research report on Thursday, October 10th. UBS Group downgraded HP from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $20.00 in a research report on Monday, September 16th. Credit Suisse Group lowered their price objective on HP from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. Finally, Citigroup set a $20.00 price objective on HP and gave the stock a “hold” rating in a research report on Friday, August 23rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $19.80.
NYSE HPQ opened at $19.52 on Friday. The company has a market cap of $28.47 billion, a price-to-earnings 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. The business has a 50 day moving average price of $17.62 and a 200-day moving average price of $19.24.
HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The firm had revenue of $14.60 billion during the quarter, compared to the consensus estimate of $14.58 billion. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, equities analysts expect that HP Inc. will post 2.21 EPS for the current year.
In related news, insider Dion J. Weisler sold 437,171 shares of HP stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.
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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