Gyroscope Capital Management Group LLC raised its stake in HP Inc. (NYSE:HPQ) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 371,665 shares of the computer maker’s stock after buying an additional 810 shares during the quarter. HP accounts for about 2.7% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 18th largest position. Gyroscope Capital Management Group LLC’s holdings in HP were worth $6,839,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in shares of HP by 28.6% in the first quarter. First Trust Advisors LP now owns 2,176,113 shares of the computer maker’s stock valued at $42,282,000 after purchasing an additional 483,807 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in HP by 85.8% in the first quarter. Rockefeller Capital Management L.P. now owns 10,036 shares of the computer maker’s stock valued at $195,000 after acquiring an additional 4,634 shares during the last quarter. Trexquant Investment LP boosted its holdings in HP by 6.1% in the first quarter. Trexquant Investment LP now owns 58,690 shares of the computer maker’s stock valued at $1,140,000 after acquiring an additional 3,361 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in HP by 69.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 38,056 shares of the computer maker’s stock valued at $739,000 after acquiring an additional 15,590 shares during the last quarter. Finally, Andra AP fonden acquired a new position in HP in the first quarter valued at $7,150,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on HPQ. UBS Group cut HP from a “buy” rating to a “neutral” rating and reduced their target price for the company from $26.00 to $20.00 in a report on Monday, September 16th. Citigroup set a $20.00 target price on HP and gave the company a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Co upgraded HP to a “market perform” rating and reduced their target price for the company from $23.00 to $20.00 in a report on Friday, August 23rd. Loop Capital cut HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $21.00 to $19.00 in a report on Friday, October 4th. Finally, Barclays reduced their target price on HP from $21.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.73.
Shares of HPQ traded up $0.40 during midday trading on Friday, reaching $16.44. 11,133,918 shares of the company were exchanged, compared to its average volume of 15,367,981. The stock has a 50-day moving average price of $18.26 and a 200-day moving average price of $19.58. The company has a market cap of $24.16 billion, a price-to-earnings ratio of 8.14, a P/E/G ratio of 3.23 and a beta of 1.42. HP Inc. has a 1-year low of $15.93 and a 1-year high of $25.72.
HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.03. The company had revenue of $14.60 billion for the quarter, compared to analysts’ expectations of $14.58 billion. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Analysts anticipate that HP Inc. will post 2.21 EPS for the current 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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