SG Americas Securities LLC Increases Holdings in HP Inc. (HPQ)
SG Americas Securities LLC boosted its holdings in shares of HP Inc. (NYSE:HPQ) by 220.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 549,391 shares of the computer maker’s stock after acquiring an additional 1,006,226 shares during the quarter. SG Americas Securities LLC’s holdings in HP were worth $14,158,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in HPQ. DNB Asset Management AS boosted its position in HP by 251.5% during the 3rd quarter. DNB Asset Management AS now owns 4,944,443 shares of the computer maker’s stock worth $127,418,000 after acquiring an additional 3,537,963 shares during the period. Boston Partners boosted its position in HP by 7.3% during the 2nd 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 period. Natixis boosted its position in HP by 8,339.5% during the 2nd 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 period. Point72 Asset Management L.P. acquired a new stake in HP during the 2nd quarter worth about $40,308,000. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in HP during the 2nd quarter worth about $31,924,000. Hedge funds and other institutional investors own 80.34% of the company’s stock.
In related news, COO Catherine A. Lesjak sold 693,594 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $25.78, for a total value of $17,880,853.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dion J. Weisler sold 86,389 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $24.80, for a total value of $2,142,447.20. Following the completion of the sale, the insider now owns 815,945 shares of the company’s stock, valued at $20,235,436. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
HP (NYSE:HPQ) last announced its quarterly earnings results on Thursday, August 23rd. The computer maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The business had revenue of $14.59 billion during the quarter, compared to analyst estimates of $14.29 billion. During the same period in the previous year, the company earned $0.43 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that HP Inc. will post 2.02 earnings per share for the current year.
HPQ has been the subject of a number of research reports. ValuEngine lowered HP from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. Morgan Stanley reduced their price target on HP from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 4th. JPMorgan Chase & Co. lowered HP from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $28.00 to $29.00 in a report on Friday, October 5th. Finally, Bank of America lifted their price target on HP from $28.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 4th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $27.44.
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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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