MAI Capital Management Increases Stake in HP Inc. (HPQ)

Share on StockTwits

MAI Capital Management lifted its holdings in shares of HP Inc. (NYSE:HPQ) by 16.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,542 shares of the computer maker’s stock after acquiring an additional 2,348 shares during the period. MAI Capital Management’s holdings in HP were worth $375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HPQ. Boston Partners grew its position in shares of HP by 7.3% during the second quarter. Boston Partners now owns 38,822,978 shares of the computer maker’s stock worth $880,893,000 after acquiring an additional 2,637,787 shares during the last quarter. Natixis grew its position in shares of HP by 8,339.5% during the second quarter. Natixis now owns 2,528,982 shares of the computer maker’s stock worth $57,383,000 after acquiring an additional 2,499,016 shares during the last quarter. Hexavest Inc. purchased a new position in shares of HP during the second quarter worth approximately $48,329,000. Point72 Asset Management L.P. purchased a new position in shares of HP during the second quarter worth approximately $40,308,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new position in shares of HP during the second quarter worth approximately $31,924,000. Institutional investors and hedge funds own 79.67% of the company’s stock.

A number of brokerages have recently issued reports on HPQ. Zacks Investment Research upgraded shares of HP from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Thursday, May 31st. BMO Capital Markets lowered their target price on shares of HP to $22.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 30th. Susquehanna Bancshares set a $22.00 target price on shares of HP and gave the stock a “hold” rating in a research report on Wednesday, May 30th. JPMorgan Chase & Co. set a $28.00 price objective on shares of HP and gave the company a “buy” rating in a research report on Wednesday, May 30th. Finally, Deutsche Bank lifted their price objective on shares of HP from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. HP presently has an average rating of “Hold” and a consensus target price of $26.06.

In other HP news, insider Marie Myers sold 8,470 shares of the business’s stock in a transaction on Friday, June 29th. The shares were sold at an average price of $22.85, for a total transaction of $193,539.50. Following the sale, the insider now directly owns 8,470 shares in the company, valued at approximately $193,539.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by insiders.

NYSE:HPQ opened at $25.69 on Friday. HP Inc. has a 1-year low of $19.31 and a 1-year high of $25.78. The company has a debt-to-equity ratio of -2.55, a quick ratio of 0.61 and a current ratio of 0.85. The firm has a market capitalization of $39.97 billion, a P/E ratio of 13.16, a PEG ratio of 1.92 and a beta of 1.59.

HP (NYSE:HPQ) last posted its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. HP had a net margin of 7.95% and a negative return on equity of 130.47%. HP’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. analysts forecast that HP Inc. will post 2.02 earnings per share for the current fiscal year.

HP 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.

Featured Article: Technical Analysis of Stocks and What It Means

Want to see what other hedge funds are holding HPQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HP Inc. (NYSE:HPQ).

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.

Latest News

AFC Energy  Trading Up 11.6%
AFC Energy Trading Up 11.6%
SolGold  Shares Up 18.6%
SolGold Shares Up 18.6%
M&T Bank Sees Unusually Large Options Volume
M&T Bank Sees Unusually Large Options Volume
Brokers Issue Forecasts for Arconic Inc’s FY2018 Earnings
Brokers Issue Forecasts for Arconic Inc’s FY2018 Earnings
Cushman & Wakefield PLC  Short Interest Update
Cushman & Wakefield PLC Short Interest Update
Mohawk Industries  Set to Announce Earnings on Thursday
Mohawk Industries Set to Announce Earnings on Thursday


© 2006-2018 Ticker Report. Google+.