DNB Asset Management AS lowered its position in HP Inc. (NYSE:HPQ – Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,349 shares of the computer maker’s stock after selling 50,462 shares during the quarter. DNB Asset Management AS’s holdings in HP were worth $10,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC lifted its stake in HP by 0.9% in the first quarter. Ballentine Partners LLC now owns 39,761 shares of the computer maker’s stock worth $1,167,000 after purchasing an additional 373 shares during the last quarter. Vantage Consulting Group Inc lifted its stake in HP by 2.1% in the first quarter. Vantage Consulting Group Inc now owns 18,550 shares of the computer maker’s stock worth $544,000 after purchasing an additional 386 shares during the last quarter. KCM Investment Advisors LLC increased its stake in HP by 4.4% in the 1st quarter. KCM Investment Advisors LLC now owns 9,551 shares of the computer maker’s stock worth $347,000 after purchasing an additional 400 shares during the period. Addison Advisors LLC lifted its position in HP by 8.2% in the first quarter. Addison Advisors LLC now owns 5,389 shares of the computer maker’s stock valued at $158,000 after purchasing an additional 409 shares during the last quarter. Finally, Empirical Finance LLC boosted its stake in shares of HP by 1.4% during the first quarter. Empirical Finance LLC now owns 30,771 shares of the computer maker’s stock valued at $903,000 after purchasing an additional 428 shares during the period. Hedge funds and other institutional investors own 76.04% of the company’s stock.
Wall Street Analysts Forecast Growth
HPQ has been the topic of several analyst reports. Bank of America decreased their target price on shares of HP from $27.00 to $25.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 30th. 58.com restated a “maintains” rating on shares of HP in a research report on Wednesday, May 31st. Morgan Stanley dropped their target price on shares of HP from $32.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, August 30th. UBS Group boosted their price target on HP from $30.00 to $31.00 in a report on Wednesday, May 31st. Finally, StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.73.
Insider Activity at HP
In related news, insider Alex Cho sold 22,490 shares of HP stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $30.50, for a total transaction of $685,945.00. Following the completion of the transaction, the insider now directly owns 22,003 shares of the company’s stock, valued at approximately $671,091.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Berkshire Hathaway Inc sold 1,333,730 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $26.80, for a total transaction of $35,743,964.00. Following the sale, the insider now directly owns 110,662,174 shares of the company’s stock, valued at approximately $2,965,746,263.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alex Cho sold 22,490 shares of the stock in a transaction dated Friday, June 30th. The shares were sold at an average price of $30.50, for a total transaction of $685,945.00. Following the sale, the insider now directly owns 22,003 shares in the company, valued at $671,091.50. The disclosure for this sale can be found here. Insiders sold a total of 7,033,261 shares of company stock valued at $197,167,583 in the last three months. Company insiders own 0.32% of the company’s stock.
HP Stock Down 0.1 %
HPQ opened at $26.77 on Friday. The stock has a market cap of $26.46 billion, a PE ratio of 11.54, a PEG ratio of 2.05 and a beta of 1.02. The business has a 50 day moving average of $30.93 and a 200-day moving average of $30.21. HP Inc. has a 52 week low of $24.08 and a 52 week high of $33.90.
HP (NYSE:HPQ – Get Free Report) last released its earnings results on Tuesday, August 29th. The computer maker reported $0.86 EPS for the quarter, meeting analysts’ consensus estimates of $0.86. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The company had revenue of $13.20 billion during the quarter, compared to analysts’ expectations of $13.38 billion. During the same quarter last year, the business posted $1.04 EPS. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. Equities analysts anticipate that HP Inc. will post 3.3 EPS for the current year.
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.
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