Baird Financial Group Inc. Has $1.48 Million Position in HP Inc. (NYSE:HPQ)

Baird Financial Group Inc. lessened its position in HP Inc. (NYSE:HPQGet Rating) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,007 shares of the computer maker’s stock after selling 3,088 shares during the quarter. Baird Financial Group Inc.’s holdings in HP were worth $1,475,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Certified Advisory Corp acquired a new position in HP during the first quarter worth $26,000. Central Bank & Trust Co. boosted its stake in shares of HP by 50.4% during the 2nd quarter. Central Bank & Trust Co. now owns 1,026 shares of the computer maker’s stock worth $34,000 after buying an additional 344 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of HP by 272.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,095 shares of the computer maker’s stock valued at $40,000 after acquiring an additional 801 shares during the last quarter. Sandy Spring Bank increased its position in shares of HP by 44.1% in the second quarter. Sandy Spring Bank now owns 1,157 shares of the computer maker’s stock valued at $38,000 after acquiring an additional 354 shares during the last quarter. Finally, Tcwp LLC acquired a new position in HP during the first quarter valued at approximately $45,000. Institutional investors own 81.17% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several recent analyst reports. Sanford C. Bernstein lowered their price target on HP from $40.00 to $30.00 in a research report on Tuesday, September 20th. Wells Fargo & Company cut their price target on shares of HP from $30.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Loop Capital downgraded shares of HP from a “buy” rating to a “hold” rating and decreased their price objective for the company from $50.00 to $29.00 in a research report on Thursday, September 1st. Morgan Stanley dropped their target price on shares of HP from $28.00 to $24.00 and set an “underweight” rating on the stock in a report on Monday, October 17th. Finally, Barclays reduced their price target on HP from $32.00 to $27.00 and set an “underweight” rating for the company in a report on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.50.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $25.23, for a total value of $857,820.00. Following the completion of the sale, the chief executive officer now directly owns 517,204 shares in the company, valued at $13,049,056.92. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

HP Trading Up 0.5 %

NYSE:HPQ opened at $29.43 on Friday. The stock has a 50 day simple moving average of $26.93 and a 200 day simple moving average of $31.60. The stock has a market cap of $29.60 billion, a P/E ratio of 5.15, a PEG ratio of 3.07 and a beta of 0.99. HP Inc. has a 1-year low of $24.08 and a 1-year high of $41.47.

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

About HP

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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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