Regent Investment Management LLC Grows Stake in HP Inc. (NYSE:HPQ)

Regent Investment Management LLC grew its position in shares of HP Inc. (NYSE:HPQGet Rating) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,505 shares of the computer maker’s stock after purchasing an additional 1,435 shares during the period. Regent Investment Management LLC’s holdings in HP were worth $869,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Central Bank & Trust Co. bought a new position in shares of HP during the first quarter valued at about $25,000. Certified Advisory Corp purchased a new position in shares of HP during the first quarter valued at about $26,000. Blue Bell Private Wealth Management LLC increased its position in shares of HP by 175.4% during the first quarter. Blue Bell Private Wealth Management LLC now owns 917 shares of the computer maker’s stock valued at $33,000 after buying an additional 584 shares during the period. Cyrus J. Lawrence LLC purchased a new position in shares of HP during the first quarter valued at about $35,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of HP by 272.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,095 shares of the computer maker’s stock valued at $40,000 after buying an additional 801 shares during the period. 81.17% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Down 3.0 %

HPQ traded down $0.76 on Friday, reaching $24.95. 196,803 shares of the company traded hands, compared to its average volume of 12,884,104. HP Inc. has a one year low of $25.69 and a one year high of $41.47. The firm has a fifty day simple moving average of $31.18 and a two-hundred day simple moving average of $34.46. The company has a market cap of $25.10 billion, a P/E ratio of 4.42, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

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

Insider Buying and Selling at HP

In other HP news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $33.05, for a total transaction of $148,725.00. Following the transaction, the chief financial officer now owns 13,500 shares of the company’s stock, valued at approximately $446,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other HP news, CEO Enrique Lores sold 34,000 shares of HP stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the completion of the sale, the chief executive officer now directly owns 551,204 shares in the company, valued at approximately $18,007,834.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Marie Myers sold 4,500 shares of HP stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.05, for a total transaction of $148,725.00. Following the sale, the chief financial officer now owns 13,500 shares of the company’s stock, valued at $446,175. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,000 shares of company stock valued at $1,406,520. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HPQ shares. Cowen dropped their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 31st. JPMorgan Chase & Co. dropped their target price on shares of HP from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Thursday, July 14th. Citigroup dropped their target price on shares of HP from $37.00 to $33.00 in a research note on Wednesday, August 31st. Sanford C. Bernstein lowered their price objective on shares of HP from $40.00 to $30.00 in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of HP from $30.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 31st. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.79.

About HP

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for HP (NYSE:HPQ)

Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.