Mainstay Capital Management LLC ADV Has $1.22 Million Position in HP Inc. (NYSE:HPQ)

Mainstay Capital Management LLC ADV lifted its holdings in HP Inc. (NYSE:HPQ) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 64,405 shares of the computer maker’s stock after buying an additional 3,930 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in HP were worth $1,223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HPQ. Rothschild & Co Wealth Management UK Ltd acquired a new position in shares of HP in the 2nd quarter valued at approximately $33,000. Transamerica Financial Advisors Inc. acquired a new position in shares of HP in the 2nd quarter valued at approximately $38,000. Coastal Capital Group Inc. acquired a new position in shares of HP in the 2nd quarter valued at approximately $39,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of HP in the 2nd quarter valued at approximately $41,000. Finally, Berman Capital Advisors LLC grew its position in shares of HP by 378.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 2,034 shares of the computer maker’s stock valued at $42,000 after purchasing an additional 1,609 shares during the period. Institutional investors and hedge funds own 79.73% of the company’s stock.

In other news, insider Dion J. Weisler sold 437,171 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Several brokerages recently issued reports on HPQ. ValuEngine upgraded HP from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group lowered HP from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $18.00 to $14.00 in a research report on Thursday, October 10th. Wells Fargo & Co upgraded HP to a “market perform” rating and decreased their price objective for the company from $23.00 to $20.00 in a research report on Friday, August 23rd. Citigroup set a $20.00 target price on HP and gave the company a “hold” rating in a research note on Friday, August 23rd. Finally, Sanford C. Bernstein cut HP from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. HP currently has an average rating of “Hold” and a consensus price target of $19.73.

NYSE HPQ traded down $0.15 during trading on Thursday, hitting $16.89. The stock had a trading volume of 181,330 shares, compared to its average volume of 16,075,408. The company has a market capitalization of $24.51 billion, a PE ratio of 8.38, a P/E/G ratio of 3.28 and a beta of 1.42. The company’s 50-day moving average price is $18.07 and its two-hundred day moving average price is $19.50. HP Inc. has a 12 month low of $15.93 and a 12 month high of $25.72.

HP (NYSE:HPQ) last released its earnings results on Thursday, August 22nd. The computer maker reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. HP had a negative return on equity of 265.02% and a net margin of 7.18%. The firm had revenue of $14.60 billion for the quarter, compared to analysts’ expectations of $14.58 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The business’s quarterly revenue was up .1% compared to the same quarter last year. Sell-side analysts expect that HP Inc. will post 2.21 EPS for the current year.

About HP

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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