HP Inc. (NYSE:HPQ) Shares Acquired by Transform Wealth LLC

Transform Wealth LLC lifted its stake in shares of HP Inc. (NYSE:HPQGet Rating) by 1,563.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,338 shares of the computer maker’s stock after purchasing an additional 223,068 shares during the period. HP accounts for about 1.2% of Transform Wealth LLC’s portfolio, making the stock its 27th largest holding. Transform Wealth LLC’s holdings in HP were worth $7,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of HP by 0.6% during the 1st quarter. BlackRock Inc. now owns 101,201,027 shares of the computer maker’s stock worth $3,673,596,000 after purchasing an additional 573,468 shares during the last quarter. State Street Corp lifted its holdings in HP by 1.7% in the first quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock valued at $2,115,148,000 after acquiring an additional 980,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in HP by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 13,405,197 shares of the computer maker’s stock valued at $486,668,000 after acquiring an additional 59,904 shares during the last quarter. Norges Bank acquired a new position in HP in the fourth quarter valued at approximately $454,451,000. Finally, Los Angeles Capital Management LLC lifted its holdings in HP by 41.6% in the first quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock valued at $254,716,000 after acquiring an additional 2,061,479 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HPQ. Wells Fargo & Company decreased their price objective on HP from $30.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, August 31st. UBS Group decreased their price objective on HP from $40.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, August 31st. Barclays decreased their price objective on HP from $32.00 to $27.00 and set an “underweight” rating on the stock in a report on Wednesday, August 31st. Cowen dropped their price objective on HP from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, August 31st. Finally, Sanford C. Bernstein decreased their target price on HP from $40.00 to $30.00 in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, HP has a consensus rating of “Hold” and an average price target of $30.79.

HP Stock Performance

Shares of HPQ traded down $0.71 during midday trading on Friday, hitting $25.00. The company had a trading volume of 267,278 shares, compared to its average volume of 12,884,104. The company’s 50-day simple moving average is $31.18 and its 200-day simple moving average is $34.46. The firm has a market capitalization of $25.15 billion, a P/E ratio of 4.42, a P/E/G ratio of 2.33 and a beta of 0.96. HP Inc. has a 1 year low of $25.69 and a 1 year high of $41.47.

HP (NYSE:HPQGet Rating) last announced its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.04. The business had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $15.63 billion. HP had a negative return on equity of 220.16% and a net margin of 9.72%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. Equities analysts predict that HP Inc. will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HP news, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $33.05, for a total value of $148,725.00. Following the completion of the sale, the chief financial officer now owns 13,500 shares in the company, valued at $446,175. The sale was disclosed in a document filed with the SEC, which is available through this link. In other HP news, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $33.05, for a total value of $148,725.00. Following the completion of the sale, the chief financial officer now owns 13,500 shares in the company, valued at $446,175. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the completion of the transaction, the chief executive officer now directly owns 551,204 shares in the company, valued at approximately $18,007,834.68. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock worth $1,406,520 over the last 90 days. 0.22% of the stock is owned by insiders.

HP Profile

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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

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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