Tower Research Capital LLC TRC Purchases 79,505 Shares of HP Inc. (NYSE:HPQ)

Tower Research Capital LLC TRC boosted its position in shares of HP Inc. (NYSE:HPQ) by 1,847.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,809 shares of the computer maker’s stock after purchasing an additional 79,505 shares during the period. Tower Research Capital LLC TRC’s holdings in HP were worth $1,586,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HPQ. Rothschild & Co Wealth Management UK Ltd acquired a new stake in shares of HP during the 2nd quarter worth approximately $33,000. Transamerica Financial Advisors Inc. acquired a new stake in shares of HP during the 2nd quarter worth approximately $38,000. Coastal Capital Group Inc. acquired a new stake in shares of HP during the 2nd quarter worth approximately $39,000. Redhawk Wealth Advisors Inc. acquired a new stake in shares of HP during the 2nd quarter worth approximately $41,000. Finally, Berman Capital Advisors LLC grew its position in shares of HP by 378.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock worth $42,000 after buying an additional 1,609 shares during the period. 79.81% of the stock is owned by hedge funds and other institutional investors.

NYSE HPQ remained flat at $$19.53 during trading on Wednesday. 10,302,190 shares of the company were exchanged, compared to its average volume of 11,533,004. The company has a market capitalization of $28.93 billion, a price-to-earnings ratio of 9.67, a price-to-earnings-growth ratio of 3.82 and a beta of 1.41. The firm’s fifty day moving average is $17.70 and its 200-day moving average is $19.23. HP Inc. has a 52-week low of $15.93 and a 52-week high of $24.43.

HP (NYSE:HPQ) last issued its quarterly earnings data on Thursday, August 22nd. The computer maker reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.03. The firm had revenue of $14.60 billion during the quarter, compared to analysts’ expectations of $14.58 billion. HP had a net margin of 7.18% and a negative return on equity of 265.02%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, research analysts expect that HP Inc. will post 2.21 EPS for the current fiscal year.

In related news, insider Dion J. Weisler sold 437,171 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $18.01, for a total transaction of $7,873,449.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is currently owned by insiders.

Several equities research analysts have recently commented on HPQ shares. Barclays lowered their price target on shares of HP from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Friday, August 23rd. UBS Group cut shares of HP from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $20.00 in a research report on Monday, September 16th. Bank of America lowered their price target on shares of HP from $17.00 to $16.00 and set an “underperform” rating for the company in a research report on Friday, October 4th. Sanford C. Bernstein cut shares of HP from an “outperform” rating to a “market perform” rating and set a $20.00 price target for the company. in a research report on Monday, September 9th. Finally, Zacks Investment Research cut shares of HP from a “hold” rating to a “sell” rating and set a $21.00 price target for the company. in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. HP has an average rating of “Hold” and an average target price of $19.85.

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.

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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