HP Inc. (NYSE:HPQ) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP cut its position in shares of HP Inc. (NYSE:HPQ) by 15.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 35,150 shares of the computer maker’s stock after selling 6,406 shares during the period. Mission Wealth Management LP’s holdings in HP were worth $1,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. increased its holdings in shares of HP by 1.4% in the 4th quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after acquiring an additional 362 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of HP by 18.8% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 2,416 shares of the computer maker’s stock worth $73,000 after purchasing an additional 382 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after buying an additional 397 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in shares of HP by 2.3% in the 3rd quarter. EP Wealth Advisors LLC now owns 19,634 shares of the computer maker’s stock valued at $505,000 after buying an additional 442 shares during the period. 77.53% of the stock is owned by institutional investors and hedge funds.

HP Price Performance

Shares of HP stock opened at $27.75 on Thursday. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The business’s fifty day moving average price is $29.24 and its two-hundred day moving average price is $28.89. The company has a market capitalization of $27.22 billion, a P/E ratio of 8.11, a PEG ratio of 2.35 and a beta of 1.06.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The business had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. On average, research analysts expect that HP Inc. will post 3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several research reports. Barclays increased their price objective on shares of HP from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. HSBC upgraded HP from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $33.00 in a research report on Wednesday, February 14th. Finally, StockNews.com lowered HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.11.

Insider Activity

In other news, insider Kristen M. Ludgate sold 41,015 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Kristen M. Ludgate sold 41,015 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the sale, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 116,723 shares of company stock worth $3,479,287. 0.41% of the stock is owned by company insiders.

About HP

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.