Millennium Management LLC Sells 2,010,350 Shares of HP Inc. (NYSE:HPQ)

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Millennium Management LLC cut its position in shares of HP Inc. (NYSE:HPQ) by 30.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,536,511 shares of the computer maker’s stock after selling 2,010,350 shares during the quarter. Millennium Management LLC owned about 0.28% of HP worth $102,933,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in shares of HP during the first quarter valued at approximately $106,000. CSat Investment Advisory L.P. bought a new stake in shares of HP during the second quarter valued at approximately $113,000. NuWave Investment Management LLC bought a new stake in shares of HP during the second quarter valued at approximately $116,000. Institutional & Family Asset Management LLC bought a new stake in shares of HP during the first quarter valued at approximately $118,000. Finally, Summit Trail Advisors LLC boosted its position in shares of HP by 2,106.3% during the first quarter. Summit Trail Advisors LLC now owns 161,547 shares of the computer maker’s stock valued at $162,000 after purchasing an additional 154,225 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.

In other news, COO Catherine A. Lesjak sold 693,594 shares of the business’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

HPQ stock opened at $25.01 on Tuesday. HP Inc. has a 1-year low of $19.31 and a 1-year high of $27.08. The company has a debt-to-equity ratio of -2.55, a current ratio of 0.85 and a quick ratio of 0.61. The firm has a market capitalization of $40.78 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.96 and a beta of 1.64.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, August 23rd. The computer maker reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. HP had a negative return on equity of 130.47% and a net margin of 7.95%. The firm had revenue of $14.59 billion during the quarter, compared to analysts’ expectations of $14.29 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts anticipate that HP Inc. will post 2.02 EPS for the current fiscal year.

Several equities research analysts recently weighed in on HPQ shares. Maxim Group lifted their price target on HP from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Morgan Stanley lifted their price target on HP from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, August 24th. Zacks Investment Research cut HP from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Wells Fargo & Co lifted their price objective on HP from $21.00 to $26.00 and gave the company a “market perform” rating in a research note on Friday, August 24th. Finally, Deutsche Bank lifted their price objective on HP from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 24th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. HP has a consensus rating of “Hold” and a consensus price target of $27.38.

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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