Allspring Global Investments Holdings LLC Acquires 398 Shares of HP Inc. (NYSE:HPQ)

Allspring Global Investments Holdings LLC raised its position in HP Inc. (NYSE:HPQ) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 80,573 shares of the computer maker’s stock after buying an additional 398 shares during the period. Allspring Global Investments Holdings LLC’s holdings in HP were worth $2,474,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of HPQ. Cantor Fitzgerald Investment Advisor L.P boosted its position 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 valued at $31,698,000 after buying an additional 413,491 shares during the last quarter. Canada Pension Plan Investment Board boosted its position 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 valued at $11,103,000 after buying an additional 97,178 shares during the last quarter. Prudential PLC bought a new position in HP in the 1st quarter valued at $892,000. Cetera Investment Advisers boosted its position in HP by 6.8% in the 1st quarter. Cetera Investment Advisers now owns 17,651 shares of the computer maker’s stock valued at $641,000 after buying an additional 1,121 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of HP in the 1st quarter valued at $309,000. 76.04% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $25.75, for a total value of $978,500.00. Following the completion of the transaction, the chief executive officer now owns 728,268 shares in the company, valued at approximately $18,752,901. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $25.75, for a total value of $978,500.00. Following the completion of the transaction, the chief executive officer now owns 728,268 shares in the company, valued at approximately $18,752,901. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marie Myers sold 4,165 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $30.00, for a total value of $124,950.00. Following the completion of the transaction, the chief financial officer now owns 22,281 shares of the company’s stock, valued at approximately $668,430. The disclosure for this sale can be found here. Insiders sold 14,457,179 shares of company stock worth $388,231,371 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

HP Trading Up 2.2 %

HPQ stock opened at $27.42 on Monday. The stock has a 50-day moving average price of $27.35 and a two-hundred day moving average price of $29.70. The stock has a market cap of $27.10 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 2.18 and a beta of 1.04. HP Inc. has a 1 year low of $25.22 and a 1 year high of $33.90.

HP (NYSE:HPQ) last released its earnings results on Tuesday, August 29th. The computer maker reported $0.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.86. The firm had revenue of $13.20 billion during the quarter, compared to analysts’ expectations of $13.38 billion. HP had a negative return on equity of 113.55% and a net margin of 4.23%. The company’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. On average, analysts forecast that HP Inc. will post 3.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on HPQ. StockNews.com raised HP from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 1st. Barclays cut their price target on HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 30th. Morgan Stanley increased their price target on HP from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Deutsche Bank Aktiengesellschaft cut their price target on HP from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, August 30th. Finally, JPMorgan Chase & Co. dropped their price objective on HP from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.55.

About HP

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.