HP Inc. (HPQ) Position Trimmed by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. lessened its holdings in shares of HP Inc. (NYSE:HPQ) by 50.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,241 shares of the company’s stock after selling 51,709 shares during the period. Daiwa Securities Group Inc.’s holdings in HP were worth $1,003,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. grew its holdings in HP by 19.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 6,167 shares of the company’s stock valued at $108,000 after purchasing an additional 1,013 shares during the last quarter. YorkBridge Wealth Partners LLC grew its holdings in HP by 3.2% in the second quarter. YorkBridge Wealth Partners LLC now owns 6,457 shares of the company’s stock valued at $113,000 after purchasing an additional 200 shares during the last quarter. Evercore Wealth Management LLC grew its holdings in HP by 14.0% in the second quarter. Evercore Wealth Management LLC now owns 6,793 shares of the company’s stock valued at $119,000 after purchasing an additional 836 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in HP by 15.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,443 shares of the company’s stock valued at $130,000 after purchasing an additional 996 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in HP by 1.1% in the second quarter. D.A. Davidson & CO. now owns 7,580 shares of the company’s stock valued at $132,000 after purchasing an additional 85 shares during the last quarter. 79.63% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, insider Dion J. Weisler sold 731,502 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of C$19.97, for a total transaction of C$14,608,094.94. Following the sale, the insider now directly owns 435,018 shares in the company, valued at approximately C$8,687,309.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Marie Myers sold 11,752 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of C$19.25, for a total value of C$226,226.00. Following the sale, the insider now owns 11,752 shares in the company, valued at C$226,226. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,812,176 shares of company stock worth $37,016,874. Company insiders own 0.62% of the company’s stock.
HPQ has been the topic of several research reports. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 target price on shares of HP in a report on Wednesday, August 16th. Loop Capital upped their target price on HP from $23.00 to $25.00 and gave the company a “buy” rating in a report on Friday, October 13th. BMO Capital Markets reissued a “hold” rating and issued a $20.00 target price on shares of HP in a report on Thursday, August 24th. Jefferies Group LLC increased their price objective on HP from $18.00 to $18.75 and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, Citigroup Inc. increased their price objective on HP from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Nine analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$21.57.
Shares of HP Inc. (NYSE HPQ) opened at C$21.23 on Monday. The company has a market capitalization of $35,459.49, a PE ratio of 13.52, a P/E/G ratio of 3.15 and a beta of 1.85. The company has a current ratio of 0.97, a quick ratio of 0.74 and a debt-to-equity ratio of -1.55. HP Inc. has a twelve month low of C$14.40 and a twelve month high of C$22.31.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 23rd. The company reported C$0.43 EPS for the quarter, beating the consensus estimate of C$0.42 by C$0.01. The business had revenue of C$13.06 billion for the quarter, compared to the consensus estimate of C$12.31 billion. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. research analysts predict that HP Inc. will post 1.65 earnings per share for the current year.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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