Parallel Advisors LLC Has $201,000 Position in HP Inc. (NYSE:HPQ)

Parallel Advisors LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 11.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,623 shares of the computer maker’s stock after selling 1,418 shares during the quarter. Parallel Advisors LLC’s holdings in HP were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HPQ. Nuveen Asset Management LLC grew its holdings in HP by 645.3% during the second quarter. Nuveen Asset Management LLC now owns 7,674,530 shares of the computer maker’s stock valued at $159,553,000 after purchasing an additional 6,644,860 shares during the period. DNB Asset Management AS grew its holdings in HP by 73.2% during the third quarter. DNB Asset Management AS now owns 8,598,374 shares of the computer maker’s stock valued at $162,681,000 after purchasing an additional 3,632,640 shares during the period. Morgan Stanley grew its holdings in HP by 12.5% during the second quarter. Morgan Stanley now owns 10,247,972 shares of the computer maker’s stock valued at $213,054,000 after purchasing an additional 1,142,355 shares during the period. Railway Pension Investments Ltd acquired a new position in HP during the third quarter valued at approximately $21,092,000. Finally, Parametric Portfolio Associates LLC grew its holdings in HP by 17.6% during the second quarter. Parametric Portfolio Associates LLC now owns 6,211,944 shares of the computer maker’s stock valued at $129,146,000 after purchasing an additional 927,847 shares during the period. Hedge funds and other institutional investors own 79.84% of the company’s stock.

HPQ traded up $0.13 during trading on Friday, reaching $19.52. The company had a trading volume of 21,217,413 shares, compared to its average volume of 11,513,799. HP Inc. has a 12 month low of $15.93 and a 12 month high of $25.49. The business’s fifty day moving average price is $17.62 and its 200 day moving average price is $19.24. The company has a market cap of $28.47 billion, a P/E ratio of 9.66, a PEG ratio of 3.60 and a beta of 1.41.

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

A number of research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of HP from $21.00 to $20.00 and set a “weight” rating for the company in a report on Friday, October 4th. Loop Capital lowered shares of HP from a “buy” rating to a “hold” rating and cut their price target for the company from $21.00 to $19.00 in a research note on Friday, October 4th. Argus lowered shares of HP from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Zacks Investment Research lowered shares of HP from a “hold” rating to a “sell” rating and set a $21.00 price target on the stock. in a research note on Thursday. Finally, 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. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.80.

In other news, insider Dion J. Weisler sold 437,171 shares of the business’s 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 document filed with the SEC, which is accessible through this link. 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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