Ameritas Advisory Services LLC lessened its holdings in shares of HP Inc. (NYSE:HPQ – Free Report) by 44.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,483 shares of the computer maker’s stock after selling 4,457 shares during the period. Ameritas Advisory Services LLC’s holdings in HP were worth $134,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. WPG Advisers LLC purchased a new position in shares of HP during the 1st quarter worth $25,000. Global Trust Asset Management LLC raised its holdings in shares of HP by 492.6% during the 2nd quarter. Global Trust Asset Management LLC now owns 1,203 shares of the computer maker’s stock worth $29,000 after acquiring an additional 1,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of HP during the 1st quarter worth $35,000. Iron Horse Wealth Management LLC purchased a new position in shares of HP during the 1st quarter worth $39,000. Finally, Financial Freedom LLC raised its holdings in shares of HP by 141.4% during the 1st quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker’s stock worth $42,000 after acquiring an additional 878 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.
HP Trading Down 0.3%
Shares of HPQ opened at $26.95 on Friday. The firm has a market cap of $25.19 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.18 and a beta of 1.29. HP Inc. has a 12-month low of $21.21 and a 12-month high of $39.79. The company’s 50-day moving average price is $27.27 and its 200 day moving average price is $26.15.
Analyst Upgrades and Downgrades
Several research firms have recently commented on HPQ. Barclays reduced their price target on HP from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, August 28th. UBS Group lifted their price target on HP from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of HP in a report on Wednesday. Evercore ISI reiterated an “in-line” rating and set a $29.00 price target on shares of HP in a report on Wednesday, September 10th. Finally, Sanford C. Bernstein initiated coverage on shares of HP in a report on Monday, September 15th. They issued a “market perform” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, HP presently has a consensus rating of “Hold” and a consensus price target of $29.38.
Insider Transactions at HP
In other HP news, CEO Enrique Lores sold 34,282 shares of the business’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $26.85, for a total transaction of $920,471.70. Following the sale, the chief executive officer directly owned 3 shares in the company, valued at $80.55. This represents a 99.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.38% of the stock is owned by company insiders.
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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