Lake Point Wealth Management Purchases New Position in HP Inc. (HPQ)

Lake Point Wealth Management bought a new position in shares of HP Inc. (NYSE:HPQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,758 shares of the computer maker’s stock, valued at approximately $77,000.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in HP by 6.2% in the third quarter. Bank of New York Mellon Corp now owns 19,076,825 shares of the computer maker’s stock valued at $491,611,000 after acquiring an additional 1,120,811 shares during the last quarter. Westpac Banking Corp boosted its holdings in HP by 7.8% in the third quarter. Westpac Banking Corp now owns 136,304 shares of the computer maker’s stock valued at $3,513,000 after acquiring an additional 9,851 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in HP by 146.9% in the third quarter. Panagora Asset Management Inc. now owns 229,420 shares of the computer maker’s stock valued at $5,912,000 after acquiring an additional 136,497 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in HP by 277.7% in the third quarter. Baird Financial Group Inc. now owns 156,932 shares of the computer maker’s stock valued at $4,018,000 after acquiring an additional 115,378 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in HP by 86.8% in the third quarter. Franklin Resources Inc. now owns 367,166 shares of the computer maker’s stock valued at $9,461,000 after acquiring an additional 170,560 shares during the last quarter. Institutional investors and hedge funds own 81.01% of the company’s stock.

Shares of HP stock traded up $0.02 on Friday, reaching $20.52. 7,436,041 shares of the company’s stock were exchanged, compared to its average volume of 11,659,772. The stock has a market capitalization of $31.47 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 3.39 and a beta of 1.39. HP Inc. has a 52 week low of $18.46 and a 52 week high of $27.08.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 27th. The computer maker reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $14.71 billion for the quarter, compared to analysts’ expectations of $14.81 billion. HP had a negative return on equity of 216.97% and a net margin of 7.15%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 EPS. Sell-side analysts expect that HP Inc. will post 2.14 earnings per share for the current fiscal year.

In other news, CEO Dion J. Weisler sold 36,799 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Several analysts recently commented on the company. Zacks Investment Research upgraded HP from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group assumed coverage on HP in a report on Thursday, April 11th. They issued a “neutral” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of HP in a report on Thursday, February 28th. BMO Capital Markets reiterated a “hold” rating and issued a $22.00 target price on shares of HP in a report on Wednesday, February 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $26.00 target price on shares of HP in a report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $26.03.

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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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