HP Inc. (NYSE:HPQ) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its position in HP Inc. (NYSE:HPQ - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 765,436 shares of the computer maker's stock after selling 57,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.08% of HP worth $24,976,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in shares of HP during the fourth quarter valued at about $26,000. Stonebridge Financial Group LLC acquired a new position in HP during the 4th quarter valued at approximately $31,000. OFI Invest Asset Management purchased a new position in shares of HP in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of HP in the fourth quarter worth $50,000. Finally, Summit Securities Group LLC purchased a new position in shares of HP in the fourth quarter worth $55,000. 77.53% of the stock is currently owned by institutional investors.

HP Price Performance

HPQ stock traded down $0.10 during midday trading on Thursday, hitting $25.47. 2,533,204 shares of the stock traded hands, compared to its average volume of 7,820,917. The firm has a market cap of $24.01 billion, a P/E ratio of 9.07, a PEG ratio of 2.96 and a beta of 1.09. The stock's fifty day simple moving average is $27.12 and its 200-day simple moving average is $32.12. HP Inc. has a 1-year low of $21.21 and a 1-year high of $39.80.

HP (NYSE:HPQ - Get Free Report) last announced its earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $13.50 billion for the quarter, compared to analyst estimates of $13.35 billion. On average, research analysts predict that HP Inc. will post 3.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of HP from $40.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Barclays raised their price target on shares of HP from $35.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Evercore ISI decreased their price target on shares of HP from $40.00 to $32.00 and set an "outperform" rating for the company in a report on Monday. StockNews.com cut shares of HP from a "buy" rating to a "hold" rating in a report on Tuesday, April 8th. Finally, Loop Capital reduced their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $33.83.

Insider Activity

In related news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the transaction, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

HP 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.