HP Inc. (HPQ) Shares Sold by Foundry Partners LLC
Foundry Partners LLC trimmed its position in shares of HP Inc. (NYSE:HPQ) by 8.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,855 shares of the computer maker’s stock after selling 63,900 shares during the quarter. Foundry Partners LLC’s holdings in HP were worth $13,151,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Boston Partners boosted its stake in shares of HP by 304.9% in the 2nd quarter. Boston Partners now owns 26,117,561 shares of the computer maker’s stock valued at $456,535,000 after buying an additional 19,667,780 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of HP in the 1st quarter valued at about $79,108,000. Parametric Portfolio Associates LLC boosted its stake in shares of HP by 87.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 7,213,170 shares of the computer maker’s stock valued at $126,086,000 after buying an additional 3,358,299 shares during the period. Miller Howard Investments Inc. NY purchased a new position in shares of HP in the 3rd quarter valued at about $63,140,000. Finally, Wells Fargo & Company MN boosted its stake in shares of HP by 26.3% in the 2nd quarter. Wells Fargo & Company MN now owns 14,487,057 shares of the computer maker’s stock valued at $253,233,000 after buying an additional 3,017,182 shares during the period. Institutional investors own 79.21% of the company’s stock.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, August 23rd. The computer maker reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. HP had a negative return on equity of 64.93% and a net margin of 4.66%. The firm had revenue of $13.06 billion for the quarter, compared to analysts’ expectations of $12.31 billion. During the same period last year, the firm earned $0.48 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year.
In related news, insider Marie Myers sold 11,752 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $19.25, for a total value of $226,226.00. Following the sale, the insider now directly owns 11,752 shares in the company, valued at approximately $226,226. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $21.50, for a total value of $880,747.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,206,355 shares of company stock worth $24,141,327. 0.62% of the stock is owned by insiders.
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Several brokerages have recently issued reports on HPQ. Royal Bank Of Canada lifted their price objective on HP from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, October 18th. Maxim Group reiterated a “hold” rating and issued a $25.00 price objective on shares of HP in a research note on Friday, October 27th. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 price objective on shares of HP in a research note on Sunday, October 8th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, October 10th. Finally, Loop Capital lifted their price objective on HP from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.57.
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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