HP Inc. (HPQ) Position Lifted by Global X Management Co LLC
Global X Management Co LLC boosted its position in HP Inc. (NYSE:HPQ) by 176.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,102 shares of the computer maker’s stock after acquiring an additional 28,811 shares during the quarter. Global X Management Co LLC’s holdings in HP were worth $1,023,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in HPQ. MAI Capital Management grew its stake in shares of HP by 16.5% during the second quarter. MAI Capital Management now owns 16,542 shares of the computer maker’s stock worth $375,000 after buying an additional 2,348 shares during the last quarter. NorthCoast Asset Management LLC bought a new stake in shares of HP during the second quarter worth $1,658,000. California Public Employees Retirement System grew its stake in shares of HP by 0.5% during the second quarter. California Public Employees Retirement System now owns 4,844,124 shares of the computer maker’s stock worth $109,913,000 after buying an additional 23,814 shares during the last quarter. Lingohr & Partner Asset Management GmbH bought a new stake in shares of HP during the second quarter worth $1,379,000. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of HP during the second quarter worth $21,222,000. 79.67% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on HPQ. Maxim Group boosted their target price on shares of HP from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Citigroup boosted their target price on shares of HP to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 24th. Morgan Stanley boosted their target price on shares of HP from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, August 24th. Zacks Investment Research cut shares of HP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Susquehanna Bancshares set a $24.00 target price on shares of HP and gave the stock a “hold” rating in a research note on Friday, August 24th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. HP presently has an average rating of “Hold” and an average price target of $26.06.
HP (NYSE:HPQ) last issued its quarterly earnings results on Thursday, August 23rd. The computer maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. HP had a net margin of 7.95% and a negative return on equity of 130.47%. HP’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. equities analysts anticipate that HP Inc. will post 2.02 earnings per share for the current year.
In other news, insider Marie Myers sold 8,470 shares of HP stock in a transaction on Friday, June 29th. The shares were sold at an average price of $22.85, for a total transaction of $193,539.50. Following the transaction, the insider now owns 8,470 shares in the company, valued at $193,539.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.
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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