Sigma Investment Counselors Inc. Buys 5,306 Shares of HP Inc. (NYSE:HPQ)

Sigma Investment Counselors Inc. raised its position in shares of HP Inc. (NYSE:HPQGet Rating) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,078 shares of the computer maker’s stock after acquiring an additional 5,306 shares during the period. Sigma Investment Counselors Inc.’s holdings in HP were worth $2,920,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in HP in the fourth quarter worth about $454,451,000. Los Angeles Capital Management LLC raised its position in shares of HP by 41.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 7,016,972 shares of the computer maker’s stock valued at $254,716,000 after purchasing an additional 2,061,479 shares during the last quarter. Pacer Advisors Inc. increased its holdings in HP by 183.9% in the 1st quarter. Pacer Advisors Inc. now owns 2,133,518 shares of the computer maker’s stock worth $77,447,000 after buying an additional 1,381,919 shares during the period. State Street Corp increased its holdings in HP by 1.7% in the 1st quarter. State Street Corp now owns 57,873,437 shares of the computer maker’s stock worth $2,115,148,000 after buying an additional 980,653 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in HP in the 1st quarter worth approximately $29,495,000. Institutional investors own 81.17% of the company’s stock.

HP Trading Down 2.4 %

Shares of NYSE HPQ traded down $0.61 on Friday, reaching $25.10. 288,192 shares of the company traded hands, compared to its average volume of 12,884,104. HP Inc. has a fifty-two week low of $25.69 and a fifty-two week high of $41.47. The company has a 50 day moving average of $31.18 and a 200 day moving average of $34.46. The stock has a market capitalization of $25.25 billion, a PE ratio of 4.42, a P/E/G ratio of 2.33 and a beta of 0.96.

HP (NYSE:HPQGet Rating) last posted its quarterly earnings data on Tuesday, August 30th. The computer maker reported $1.04 EPS for the quarter, meeting analysts’ consensus estimates of $1.04. HP had a net margin of 9.72% and a negative return on equity of 220.16%. The company had revenue of $14.66 billion during the quarter, compared to the consensus estimate of $15.63 billion. During the same quarter in the prior year, the company posted $1.00 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, research analysts expect that HP Inc. will post 4.08 earnings per share for the current year.

Insider Activity

In related news, CFO Marie Myers sold 4,500 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $147,015.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $588,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Marie Myers sold 4,500 shares of the stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total transaction of $147,015.00. Following the completion of the sale, the chief financial officer now owns 18,000 shares of the company’s stock, valued at approximately $588,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Enrique Lores sold 34,000 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $32.67, for a total transaction of $1,110,780.00. Following the sale, the chief executive officer now directly owns 551,204 shares of the company’s stock, valued at approximately $18,007,834.68. The disclosure for this sale can be found here. Insiders sold a total of 43,000 shares of company stock valued at $1,406,520 in the last 90 days. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays decreased their price objective on shares of HP from $32.00 to $27.00 and set an “underweight” rating for the company in a research report on Wednesday, August 31st. Credit Suisse Group cut their price objective on shares of HP from $39.00 to $33.00 and set an “outperform” rating for the company in a report on Wednesday, August 31st. Sanford C. Bernstein cut their price objective on shares of HP from $40.00 to $30.00 in a report on Tuesday. Cowen dropped their price target on shares of HP from $38.00 to $30.00 and set a “market perform” rating for the company in a research note on Wednesday, August 31st. Finally, Morgan Stanley dropped their price target on shares of HP from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.79.

HP Profile

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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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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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