2 weeks Ago By Defense World Staff
Teewinot Capital Advisers L.L.C.
reduced its holdings in HP Inc. ( NYSE:HPQ – Free Report ) by 5.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).
The institutional investor owned 23,802 shares of the computer maker’s stock after selling 1,498 shares during the quarter. HP accounts for 0.1% of Teewinot Capital Advisers L.
L.C.’s holdings, making the stock its 23rd biggest position.
Teewinot Capital Advisers L.L.C.
’s holdings in HP were worth $833,000 as of its most recent SEC filing. Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc.
boosted its stake in shares of HP by 2.6% during the 1st quarter. Vanguard Group Inc.
now owns 120,778,246 shares of the computer maker’s stock worth $3,649,919,000 after acquiring an additional 3,062,441 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of HP by 6.
2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares during the last quarter.
LSV Asset Management boosted its position in shares of HP by 3.3% in the 1st quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares during the period.
Legal & General Group Plc increased its stake in HP by 11.3% in the 2nd quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter.
Finally, Northern Trust Corp raised its holdings in HP by 0.4% during the 4th quarter. Northern Trust Corp now owns 10,172,444 shares of the computer maker’s stock worth $306,089,000 after buying an additional 40,884 shares during the period.
77.53% of the stock is currently owned by institutional investors. Insider Transactions at HP In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on Thursday, September 12th.
The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16.
Following the transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink .
0.41% of the stock is currently owned by corporate insiders. HP Stock Down 3.
9 % HP ( NYSE:HPQ – Get Free Report ) last posted its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.
86 by ($0.03). HP had a negative return on equity of 266.
37% and a net margin of 5.33%. The company had revenue of $13.
52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the firm posted $0.
86 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year.
On average, research analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.
HP announced that its board has authorized a share repurchase program on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to repurchase up to 28.
9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued. Analysts Set New Price Targets Several research analysts have commented on HPQ shares.
JPMorgan Chase & Co. raised their target price on shares of HP from $38.00 to $42.
00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley decreased their target price on HP from $37.00 to $36.
00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Barclays dropped their price target on HP from $33.00 to $32.
00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company.
in a research report on Friday. Finally, Loop Capital lowered their target price on HP from $37.00 to $35.
00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.
com, the stock has an average rating of “Hold” and a consensus target price of $35.55. Read Our Latest Analysis on HP About HP ( Free Report ) 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. Further Reading Five stocks we like better than HP 3 Must-Buy Warren Buffett Stocks for Volatile Times Simon Property REIT: A Safe Bet for Growth and Steady Dividends What Does Downgrade Mean in Investing? CarMax’s Impressive Rally: What Investors Should Watch Next How the NYSE and NASDAQ are Different, Why That Matters to Investors MarketBeat Week in Review – 9/23 – 9/27 Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.
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