Brookstone Capital Management Acquires 2,480 Shares of HP Inc. (NYSE:HPQ)

Brookstone Capital Management grew its position in shares of HP Inc. (NYSE:HPQGet Rating) by 8.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 31,614 shares of the computer maker’s stock after buying an additional 2,480 shares during the quarter. Brookstone Capital Management’s holdings in HP were worth $1,015,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HPQ. Central Bank & Trust Co. acquired a new position in HP in the first quarter valued at approximately $25,000. Certified Advisory Corp acquired a new position in HP in the first quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC raised its holdings in HP by 175.4% in the first quarter. Blue Bell Private Wealth Management LLC now owns 917 shares of the computer maker’s stock worth $33,000 after purchasing an additional 584 shares during the period. Cyrus J. Lawrence LLC acquired a new stake in HP in the first quarter worth $35,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in HP by 272.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,095 shares of the computer maker’s stock worth $40,000 after purchasing an additional 801 shares during the period. 81.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HPQ has been the topic of several analyst reports. Cowen cut their target price on shares of HP from $38.00 to $30.00 and set a “market perform” rating on the stock in a report on Wednesday, August 31st. Citigroup cut their target price on shares of HP from $37.00 to $33.00 in a report on Wednesday, August 31st. Morgan Stanley cut their target price on shares of HP from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Wednesday, August 31st. StockNews.com lowered shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Finally, Sanford C. Bernstein dropped their price objective on shares of HP from $40.00 to $30.00 in a report on Tuesday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.79.

HP Stock Performance

NYSE HPQ opened at $26.00 on Thursday. The firm has a 50-day moving average of $31.29 and a 200-day moving average of $34.53. The stock has a market cap of $26.15 billion, a PE ratio of 4.55, a P/E/G ratio of 2.41 and a beta of 0.96. HP Inc. has a 52-week low of $26.00 and a 52-week high of $41.47.

HP (NYSE:HPQGet Rating) last posted its earnings results on Tuesday, August 30th. The computer maker reported $1.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.04. The company had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $15.63 billion. HP had a net margin of 9.72% and a negative return on equity of 220.16%. HP’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. As a group, analysts predict that HP Inc. will post 4.09 EPS for the current fiscal year.

Insider Transactions at HP

In other news, CFO Marie Myers sold 4,500 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $33.05, for a total transaction of $148,725.00. Following the completion of the sale, the chief financial officer now owns 13,500 shares in the company, valued at approximately $446,175. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Enrique Lores sold 34,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $32.67, for a total value of $1,110,780.00. Following the completion of the transaction, the chief executive officer now directly owns 551,204 shares in the company, valued at approximately $18,007,834.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marie Myers sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $33.05, for a total transaction of $148,725.00. Following the completion of the transaction, the chief financial officer now owns 13,500 shares of the company’s stock, valued at $446,175. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,000 shares of company stock worth $1,406,520. 0.22% of the stock is owned by insiders.

About HP

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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.

Further Reading

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Institutional Ownership by Quarter for HP (NYSE:HPQ)

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