IFM Investors Pty Ltd lifted its holdings in HP Inc. (NYSE:HPQ) by 8.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 117,601 shares of the computer maker’s stock after purchasing an additional 9,044 shares during the quarter. IFM Investors Pty Ltd’s holdings in HP were worth $2,233,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in HPQ. Farmers Trust Co. increased its position in HP by 4.3% in the second quarter. Farmers Trust Co. now owns 237,485 shares of the computer maker’s stock worth $4,140,000 after purchasing an additional 9,756 shares during the period. J.W. Cole Advisors Inc. acquired a new position in shares of HP during the 2nd quarter worth about $355,000. APG Asset Management N.V. grew its position in shares of HP by 56.0% during the 1st quarter. APG Asset Management N.V. now owns 1,452,890 shares of the computer maker’s stock worth $25,222,000 after buying an additional 521,490 shares during the period. Commonwealth Equity Services LLC grew its position in shares of HP by 15.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 628,094 shares of the computer maker’s stock worth $10,947,000 after buying an additional 83,722 shares during the period. Finally, DNB Asset Management AS grew its position in shares of HP by 170.6% during the 2nd quarter. DNB Asset Management AS now owns 3,172,975 shares of the computer maker’s stock worth $55,305,000 after buying an additional 2,000,285 shares during the period. 77.98% of the stock is owned by institutional investors and hedge funds.
In other news, insider Alex Cho sold 46,201 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $19.90, for a total transaction of $919,399.90. Following the sale, the insider now owns 54,336 shares in the company, valued at approximately $1,081,286.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kim M. Rivera sold 97,324 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $19.35, for a total value of $1,883,219.40. Following the sale, the insider now owns 105,899 shares in the company, valued at approximately $2,049,145.65. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.
HP (NYSE:HPQ) last announced its quarterly earnings data on Thursday, August 27th. The computer maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. HP had a negative return on equity of 237.44% and a net margin of 4.51%. The company had revenue of $14.29 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. Analysts anticipate that HP Inc. will post 2.19 EPS for the current year.
Several equities analysts recently issued reports on HPQ shares. Bank of America boosted their price objective on HP from $16.00 to $18.00 and gave the company an “underperform” rating in a research report on Friday, August 28th. BofA Securities boosted their price objective on HP from $16.00 to $18.00 and gave the company an “underperform” rating in a research report on Friday, August 28th. ValuEngine lowered HP from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 8th. Cowen boosted their price objective on HP from $18.00 to $20.00 and gave the company a “market perform” rating in a research report on Friday, August 28th. Finally, Loop Capital boosted their price objective on HP from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. HP presently has a consensus rating of “Hold” and an average target price of $19.14.
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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