Dorsey Wright & Associates cut its holdings in HP Inc. (NYSE:HPQ) by 18.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,437 shares of the computer maker’s stock after selling 28,585 shares during the quarter. Dorsey Wright & Associates’ holdings in HP were worth $3,207,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Private Advisor Group LLC boosted its stake in shares of HP by 148.4% during the second quarter. Private Advisor Group LLC now owns 84,522 shares of the computer maker’s stock valued at $1,929,000 after purchasing an additional 50,500 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of HP by 1.2% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,177,800 shares of the computer maker’s stock valued at $72,104,000 after purchasing an additional 37,300 shares in the last quarter. BDO Wealth Advisors LLC boosted its stake in shares of HP by 15.8% during the second quarter. BDO Wealth Advisors LLC now owns 45,442 shares of the computer maker’s stock valued at $1,031,000 after purchasing an additional 6,208 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of HP during the second quarter valued at about $40,308,000. Finally, Boston Research & Management Inc. acquired a new stake in shares of HP during the second quarter valued at about $201,000. 79.67% of the stock is currently owned by hedge funds and other institutional investors.
HP stock opened at $23.67 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of -2.55. The company has a market capitalization of $40.78 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.96 and a beta of 1.64. HP Inc. has a one year low of $19.31 and a one year high of $27.08.
HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, topping the Zacks’ 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 negative return on equity of 130.47% and a net margin of 7.95%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share. Equities analysts predict that HP Inc. will post 2.02 earnings per share for the current fiscal year.
A number of brokerages have recently commented on HPQ. Zacks Investment Research raised HP from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Tuesday. Argus reissued a “buy” rating on shares of HP in a research note on Monday, October 8th. JPMorgan Chase & Co. lowered HP from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $29.00 in a research note on Friday, October 5th. Susquehanna Bancshares set a $25.00 price target on HP and gave the company a “hold” rating in a research note on Thursday, October 4th. Finally, Bank of America lifted their price target on HP from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, October 4th. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.44.
In related news, COO Catherine A. Lesjak sold 693,594 shares of HP stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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.
Featured Article: Trading Penny Stocks
Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.