California Public Employees Retirement System cut its holdings in shares of HP Inc. (NYSE:HPQ) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,964,347 shares of the computer maker’s stock after selling 161,422 shares during the quarter. California Public Employees Retirement System’s holdings in HP were worth $89,494,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Versor Investments LP raised its stake in shares of HP by 3.7% during the second quarter. Versor Investments LP now owns 11,146 shares of the computer maker’s stock worth $336,000 after acquiring an additional 400 shares in the last quarter. Leisure Capital Management increased its stake in shares of HP by 1.0% in the first quarter. Leisure Capital Management now owns 44,627 shares of the computer maker’s stock worth $1,417,000 after buying an additional 420 shares during the period. Fieldpoint Private Securities LLC increased its stake in shares of HP by 13.7% in the second quarter. Fieldpoint Private Securities LLC now owns 3,504 shares of the computer maker’s stock worth $104,000 after buying an additional 423 shares during the period. Reilly Financial Advisors LLC increased its stake in shares of HP by 25.3% in the second quarter. Reilly Financial Advisors LLC now owns 2,506 shares of the computer maker’s stock worth $76,000 after buying an additional 506 shares during the period. Finally, Capital Investment Counsel Inc increased its stake in shares of HP by 2.8% in the second quarter. Capital Investment Counsel Inc now owns 18,754 shares of the computer maker’s stock worth $566,000 after buying an additional 515 shares during the period. 77.22% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently commented on HPQ. Morgan Stanley downgraded shares of HP from an “overweight” rating to an “equal weight” rating and set a $31.00 target price on the stock. in a research note on Friday, August 27th. JPMorgan Chase & Co. downgraded shares of HP to a “hold” rating and set a $30.00 target price on the stock. in a research note on Wednesday, October 6th. Jefferies Financial Group started coverage on shares of HP in a research report on Monday, August 9th. They set a “hold” rating and a $31.00 price objective on the stock. Finally, Evercore ISI reissued a “buy” rating and set a $34.00 price objective on shares of HP in a research report on Sunday, August 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HP has a consensus rating of “Hold” and an average target price of $28.63.
Shares of HPQ stock opened at $26.48 on Thursday. HP Inc. has a 12 month low of $17.25 and a 12 month high of $36.00. The stock has a market cap of $30.52 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00. The company’s fifty day moving average price is $28.47 and its 200-day moving average price is $30.19.
HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 25th. The computer maker reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.16. HP had a net margin of 6.56% and a negative return on equity of 137.22%. The firm had revenue of $15.29 billion for the quarter, compared to analysts’ expectations of $15.92 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts expect that HP Inc. will post 3.73 earnings per share for the current year.
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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