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.
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 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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