Spire Wealth Management Has $176,000 Stake in HP Inc. (NYSE:HPQ)

Posted by on Apr 25th, 2023

Spire Wealth Management grew its position in shares of HP Inc. (NYSE:HPQ – Get Rating) by 23.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,559 shares of the computer maker’s stock after buying an additional 1,231 shares during the quarter. Spire Wealth Management’s holdings in HP were worth $176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P lifted its holdings in HP by 89.9% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 873,243 shares of the computer maker’s stock worth $31,698,000 after purchasing an additional 413,491 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in HP by 46.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 305,877 shares of the computer maker’s stock worth $11,103,000 after purchasing an additional 97,178 shares during the last quarter. Prudential PLC acquired a new stake in HP in the 1st quarter worth approximately $892,000. Cetera Investment Advisers lifted its holdings in HP by 6.8% in the 1st quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock worth $641,000 after purchasing an additional 1,121 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in HP in the 1st quarter worth approximately $309,000. 79.68% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

Shares of NYSE:HPQ opened at $29.47 on Tuesday. The business’s fifty day moving average price is $29.07 and its two-hundred day moving average price is $28.41. HP Inc. has a fifty-two week low of $24.08 and a fifty-two week high of $40.79. The stock has a market capitalization of $29.04 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.26 and a beta of 1.00.

HP (NYSE:HPQ – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The computer maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. HP had a negative return on equity of 141.20% and a net margin of 4.36%. The firm had revenue of $13.83 billion for the quarter, compared to analysts’ expectations of $14.17 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The business’s revenue was down 18.8% compared to the same quarter last year. Research analysts expect that HP Inc. will post 3.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HPQ. TheStreet lowered HP from a “b-” rating to a “c+” rating in a report on Tuesday, February 28th. Morgan Stanley boosted their target price on HP from $24.00 to $28.00 and gave the stock an “underweight” rating in a report on Tuesday, February 21st. StockNews.com began coverage on HP in a report on Thursday, March 16th. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded HP from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $35.00 in a report on Monday, April 17th. Finally, The Goldman Sachs Group began coverage on HP in a report on Monday, March 20th. They set a “neutral” rating and a $26.00 price target for the company. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, HP has a consensus rating of “Hold” and a consensus price target of $29.50.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 38,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $29.51, for a total value of $1,121,380.00. Following the sale, the chief executive officer now directly owns 766,268 shares in the company, valued at $22,612,568.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other HP news, CEO Enrique Lores sold 38,000 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $29.51, for a total value of $1,121,380.00. Following the transaction, the chief executive officer now owns 766,268 shares of the company’s stock, valued at $22,612,568.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Marie Myers sold 7,380 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $29.87, for a total value of $220,440.60. Following the completion of the transaction, the chief financial officer now directly owns 22,648 shares in the company, valued at approximately $676,495.76. The disclosure for this sale can be found here. Insiders have sold 56,925 shares of company stock worth $1,678,337 over the last three months. Company insiders own 0.32% of the company’s stock.

HP Profile

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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.

Further Reading

Institutional Ownership by Quarter for HP (NYSE:HPQ)

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