MAI Capital Management Acquires 2,348 Shares of HP Inc. (HPQ)
MAI Capital Management grew its holdings in HP Inc. (NYSE:HPQ) by 16.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,542 shares of the computer maker’s stock after purchasing an additional 2,348 shares during the quarter. MAI Capital Management’s holdings in HP were worth $375,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of HPQ. Rockefeller Capital Management L.P. purchased a new position in shares of HP in the first quarter valued at approximately $106,000. CSat Investment Advisory L.P. purchased a new position in shares of HP in the second quarter valued at approximately $113,000. NuWave Investment Management LLC purchased a new position in shares of HP in the second quarter valued at approximately $116,000. Institutional & Family Asset Management LLC purchased a new position in shares of HP in the first quarter valued at approximately $118,000. Finally, Summit Trail Advisors LLC boosted its stake in shares of HP by 2,106.3% in the first quarter. Summit Trail Advisors LLC now owns 161,547 shares of the computer maker’s stock valued at $162,000 after purchasing an additional 154,225 shares during the period. 79.67% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:HPQ opened at $25.69 on Friday. The company has a market capitalization of $39.97 billion, a P/E ratio of 13.16, a PEG ratio of 1.92 and a beta of 1.59. HP Inc. has a fifty-two week low of $19.31 and a fifty-two week high of $25.78. The company has a debt-to-equity ratio of -2.55, a quick ratio of 0.61 and a current ratio of 0.85.
In other HP news, insider Marie Myers sold 8,470 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 8,470 shares of the company’s stock, valued at $193,539.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.
Several research analysts have recently commented on the stock. Maxim Group raised their price objective on shares of HP from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Citigroup raised their price objective on shares of HP to $30.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Morgan Stanley raised their price objective on shares of HP from $28.00 to $29.00 and gave the company 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 report on Tuesday, August 28th. Finally, Susquehanna Bancshares set a $24.00 target price on shares of HP and gave the company a “hold” rating in a report on Friday, August 24th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. HP presently has a consensus rating of “Hold” and an average price target of $26.06.
HP Company Profile
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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