First Trust Direct Indexing L.P. Has $855,000 Position in HP Inc. (NYSE:HPQ)

First Trust Direct Indexing L.P. lifted its position in HP Inc. (NYSE:HPQ) by 33.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,412 shares of the computer maker’s stock after acquiring an additional 7,089 shares during the period. First Trust Direct Indexing L.P.’s holdings in HP were worth $855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its holdings in shares of HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after purchasing an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in HP in the 4th quarter valued at $28,000. Janiczek Wealth Management LLC boosted its stake in HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after purchasing an additional 566 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of HP in the 4th quarter valued at about $34,000. Finally, Salem Investment Counselors Inc. grew its holdings in shares of HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock worth $36,000 after buying an additional 380 shares in the last quarter. Institutional investors own 77.53% of the company’s stock.

HP Trading Up 0.8 %

NYSE HPQ opened at $28.18 on Friday. The stock has a 50-day moving average of $29.22 and a 200-day moving average of $28.88. HP Inc. has a 1-year low of $25.22 and a 1-year high of $33.90. The firm has a market cap of $27.63 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 2.34 and a beta of 1.06.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.56 billion. HP had a negative return on equity of 181.02% and a net margin of 6.45%. HP’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, equities research analysts forecast that HP Inc. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at HP

In related news, insider Stephanie Liebman sold 8,708 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HP news, insider Stephanie Liebman sold 8,708 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $30.93, for a total value of $269,338.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock worth $3,479,287 in the last three months. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several research reports. HSBC raised shares of HP from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. Barclays lifted their target price on HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Finally, StockNews.com cut HP from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.11.

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.