Federated Hermes Inc. Purchases 29,237 Shares of HP Inc. (NYSE:HPQ)

Federated Hermes Inc. increased its position in shares of HP Inc. (NYSE:HPQ) by 747.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,151 shares of the computer maker’s stock after buying an additional 29,237 shares during the quarter. Federated Hermes Inc.’s holdings in HP were worth $998,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of HP by 12.3% in the third quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker’s stock valued at $3,019,999,000 after buying an additional 12,883,347 shares during the last quarter. Pacer Advisors Inc. raised its holdings in HP by 4,180.9% in the 4th quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker’s stock valued at $286,352,000 after acquiring an additional 9,294,209 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in HP by 145.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker’s stock valued at $156,535,000 after acquiring an additional 3,613,742 shares in the last quarter. Hsbc Holdings PLC raised its holdings in HP by 104.6% in the 3rd quarter. Hsbc Holdings PLC now owns 4,352,558 shares of the computer maker’s stock valued at $112,014,000 after acquiring an additional 2,225,530 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in HP in the 3rd quarter valued at $54,302,000. 77.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent analyst reports. HSBC upgraded HP from a “hold” rating to a “buy” rating and lifted their price target for the company from $30.00 to $33.00 in a research note on Wednesday, February 14th. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, Barclays boosted their price objective on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

HP Trading Down 0.6 %

NYSE:HPQ opened at $28.09 on Wednesday. HP Inc. has a 12 month low of $25.22 and a 12 month high of $33.90. The company has a market cap of $27.55 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The company has a 50 day simple moving average of $29.26 and a two-hundred day simple moving average of $28.90.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to the consensus estimate of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. Research analysts forecast that HP Inc. will post 3.42 earnings per share for the current year.

Insider Activity at HP

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now directly owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,723 shares of company stock worth $3,479,287. Insiders own 0.41% of the company’s stock.

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.