Sterling Capital Management LLC Decreases Holdings in HP Inc. (HPQ)

Sterling Capital Management LLC trimmed its position in HP Inc. (NYSE:HPQ) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,639 shares of the computer maker’s stock after selling 37,355 shares during the quarter. Sterling Capital Management LLC’s holdings in HP were worth $11,922,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Private Advisor Group LLC grew its holdings in shares of HP by 148.4% during the 2nd quarter. Private Advisor Group LLC now owns 84,522 shares of the computer maker’s stock worth $1,929,000 after purchasing an additional 50,500 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its holdings in shares of HP by 1.2% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 3,177,800 shares of the computer maker’s stock worth $72,104,000 after purchasing an additional 37,300 shares in the last quarter. BDO Wealth Advisors LLC grew its holdings in shares of HP by 15.8% during the 2nd quarter. BDO Wealth Advisors LLC now owns 45,442 shares of the computer maker’s stock worth $1,031,000 after purchasing an additional 6,208 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of HP during the 2nd quarter worth $40,308,000. Finally, First American Bank acquired a new stake in shares of HP during the 3rd quarter worth $4,044,000. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:HPQ opened at $24.63 on Friday. The stock has a market capitalization of $38.97 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.50. HP Inc. has a twelve month low of $19.31 and a twelve month high of $27.08.

HP (NYSE:HPQ) last released its quarterly earnings data on Thursday, August 23rd. The computer maker reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $14.59 billion for the quarter, compared to analyst estimates of $14.29 billion. HP had a negative return on equity of 130.47% and a net margin of 7.95%. HP’s revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts predict that HP Inc. will post 2.02 EPS for the current fiscal year.

HPQ has been the topic of several analyst reports. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating in a report on Tuesday, July 31st. ValuEngine lowered HP from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Citigroup increased their target price on HP to $30.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Maxim Group increased their target price on HP from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, Morgan Stanley increased their target price on HP from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Friday, August 24th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $27.44.

In related news, COO Catherine A. Lesjak sold 693,594 shares of the firm’s stock in a transaction dated 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 SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

HP Company 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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