Allworth Financial LP Acquires 4,617 Shares of HP Inc. (NYSE:HPQ)

Allworth Financial LP raised its holdings in HP Inc. (NYSE:HPQGet Rating) by 13.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,628 shares of the computer maker’s stock after acquiring an additional 4,617 shares during the quarter. Allworth Financial LP’s holdings in HP were worth $1,299,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in HP by 0.6% in the first quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock worth $3,673,596,000 after purchasing an additional 573,468 shares during the period. State Street Corp raised its holdings in HP by 1.7% in the first quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock worth $2,115,148,000 after purchasing an additional 980,653 shares during the period. Dimensional Fund Advisors LP raised its holdings in HP by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock worth $486,668,000 after purchasing an additional 59,904 shares during the period. Norges Bank acquired a new stake in HP in the fourth quarter worth $454,451,000. Finally, Los Angeles Capital Management LLC raised its holdings in HP by 41.6% in the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock worth $254,716,000 after purchasing an additional 2,061,479 shares during the period. 81.17% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

Shares of HPQ opened at $25.71 on Friday. The firm has a 50-day moving average of $31.18 and a 200-day moving average of $34.46. HP Inc. has a one year low of $25.69 and a one year high of $41.47. The company has a market cap of $25.86 billion, a PE ratio of 4.49, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. The company had revenue of $14.66 billion during the quarter, compared to the consensus estimate of $15.63 billion. HP had a net margin of 9.72% and a negative return on equity of 220.16%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. Analysts expect that HP Inc. will post 4.08 earnings per share for the current year.

Analysts Set New Price Targets

HPQ has been the topic of several analyst reports. Citigroup cut their target price on shares of HP from $37.00 to $33.00 in a report on Wednesday, August 31st. Loop Capital lowered shares of HP from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $50.00 to $29.00 in a report on Thursday, September 1st. Sanford C. Bernstein dropped their price objective on shares of HP from $40.00 to $30.00 in a report on Tuesday. Credit Suisse Group dropped their price objective on shares of HP from $39.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, August 31st. Finally, Evercore ISI dropped their price objective on shares of HP to $33.00 in a report on Tuesday, September 6th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.79.

Insider Buying and Selling

In related news, CFO Marie Myers sold 4,500 shares of HP stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $147,015.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $588,060. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other HP news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the completion of the sale, the chief executive officer now owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $147,015.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares of the company’s stock, valued at approximately $588,060. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,000 shares of company stock valued at $1,406,520. Company insiders own 0.22% of the company’s stock.

HP Company 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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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