Maverick Capital Ltd. Acquires Shares of 142,220 HP Inc. (NYSE:HPQ)

Maverick Capital Ltd. acquired a new stake in HP Inc. (NYSE:HPQ) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 142,220 shares of the computer maker’s stock, valued at approximately $2,957,000.

A number of other institutional investors also recently added to or reduced their stakes in HPQ. First Trust Advisors LP increased its stake in shares of HP by 28.6% during the 1st quarter. First Trust Advisors LP now owns 2,176,113 shares of the computer maker’s stock worth $42,282,000 after purchasing an additional 483,807 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in shares of HP during the 1st quarter worth $27,000. AJO LP increased its stake in shares of HP by 2.1% during the 1st quarter. AJO LP now owns 11,126,218 shares of the computer maker’s stock worth $216,182,000 after purchasing an additional 224,949 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of HP by 1.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 285,645 shares of the computer maker’s stock worth $5,550,000 after purchasing an additional 3,844 shares during the last quarter. Finally, Federated Investors Inc. PA increased its stake in shares of HP by 10.8% during the 1st quarter. Federated Investors Inc. PA now owns 1,103,433 shares of the computer maker’s stock worth $21,439,000 after purchasing an additional 107,118 shares during the last quarter. Hedge funds and other institutional investors own 79.71% of the company’s stock.

Shares of NYSE HPQ traded down $0.16 during trading hours on Tuesday, hitting $18.76. 191,933 shares of the stock were exchanged, compared to its average volume of 10,706,671. The company’s 50 day moving average is $18.66 and its 200 day moving average is $19.72. The firm has a market capitalization of $27.46 billion, a P/E ratio of 9.32, a P/E/G ratio of 2.61 and a beta of 1.43. HP Inc. has a one year low of $17.10 and a one year high of $27.08.

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

In other HP news, insider Dion J. Weisler sold 437,171 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $18.01, for a total value of $7,873,449.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.28% of the stock is currently owned by corporate insiders.

Several brokerages have recently commented on HPQ. Citigroup set a $20.00 price target on shares of HP and gave the stock a “hold” rating in a research note on Friday, August 23rd. Wells Fargo & Co upgraded shares of HP to a “market perform” rating and dropped their price target for the stock from $23.00 to $20.00 in a research note on Friday, August 23rd. Bank of America dropped their price target on shares of HP from $19.00 to $17.00 and set an “underperform” rating on the stock in a research note on Friday, August 23rd. Sanford C. Bernstein lowered shares of HP from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research note on Monday, September 9th. Finally, Deutsche Bank began coverage on shares of HP in a research note on Wednesday, June 19th. They set a “hold” rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.76.

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.

Recommended Story: Why do companies engage in swaps?

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.