HP Inc. (NYSE:HPQ) Position Cut by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group trimmed its holdings in HP Inc. (NYSE:HPQ) by 10.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,015 shares of the computer maker’s stock after selling 1,567 shares during the quarter. Rehmann Capital Advisory Group’s holdings in HP were worth $271,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Transamerica Financial Advisors Inc. bought a new position in HP in the 2nd quarter worth approximately $38,000. Coastal Capital Group Inc. bought a new position in HP in the 2nd quarter worth approximately $39,000. Redhawk Wealth Advisors Inc. bought a new position in HP in the 2nd quarter worth approximately $41,000. Berman Capital Advisors LLC grew its holdings in HP by 378.6% in 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 in the last quarter. Finally, SevenBridge Financial Group LLC grew its holdings in HP by 65.7% in the 2nd quarter. SevenBridge Financial Group LLC now owns 3,054 shares of the computer maker’s stock worth $63,000 after buying an additional 1,211 shares in the last quarter. 79.71% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on HPQ shares. Credit Suisse Group decreased their price target on HP from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday. Sanford C. Bernstein lowered HP from an “outperform” rating to a “market perform” rating and set a $20.00 price target for the company. in a research note on Monday, September 9th. Citigroup set a $20.00 price target on HP and gave the company a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley decreased their price target on HP from $21.00 to $20.00 and set a “weight” rating for the company in a research note on Friday. Finally, Bank of America decreased their price target on HP from $17.00 to $16.00 and set an “underperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company. HP has an average rating of “Hold” and a consensus price target of $21.39.

Shares of HPQ traded down $1.70 during trading hours on Friday, hitting $16.70. 1,327,055 shares of the company were exchanged, compared to its average volume of 12,065,181. The company has a market capitalization of $27.55 billion, a PE ratio of 8.29, a PEG ratio of 2.62 and a beta of 1.42. The firm has a fifty day simple moving average of $18.62 and a 200-day simple moving average of $19.70. HP Inc. has a one year low of $17.10 and a one year high of $27.08.

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

In other news, insider Dion J. Weisler sold 437,171 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $18.01, for a total transaction of $7,873,449.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

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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