Ellsworth Advisors LLC Has $4 Million Position in HP Inc. $HPQ

Key Points

• Ellsworth Advisors LLC increased its stake in HP Inc. by 11.0% in Q1, now owning approximately $4 million worth of shares.
• HP reported a quarterly earnings of $0.75 EPS, meeting analysts' expectations, and noted a revenue increase of 3.1% compared to the same quarter last year.
• Institutional investors hold 77.53% of HP's stock, with various firms adjusting their positions during the first quarter of 2023.

Ellsworth Advisors LLC grew its position in HP Inc. (NYSE:HPQ - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,577 shares of the computer maker's stock after purchasing an additional 14,273 shares during the quarter. Ellsworth Advisors LLC's holdings in HP were worth $4,003,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HPQ. WPG Advisers LLC bought a new position in shares of HP in the first quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of HP in the first quarter valued at approximately $35,000. Iron Horse Wealth Management LLC bought a new position in shares of HP in the first quarter valued at approximately $39,000. Financial Freedom LLC raised its position in shares of HP by 141.4% in the first quarter. Financial Freedom LLC now owns 1,499 shares of the computer maker's stock valued at $42,000 after purchasing an additional 878 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of HP by 165.3% in the first quarter. Golden State Wealth Management LLC now owns 1,520 shares of the computer maker's stock valued at $42,000 after purchasing an additional 947 shares during the period. Institutional investors own 77.53% of the company's stock.

HP Trading Down 2.3%

Shares of HPQ stock opened at $28.38 on Thursday. HP Inc. has a 1 year low of $21.21 and a 1 year high of $39.79. The firm's fifty day simple moving average is $26.42 and its 200 day simple moving average is $26.54. The firm has a market capitalization of $26.53 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 2.34 and a beta of 1.29.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, August 27th. The computer maker reported $0.75 earnings per share for the quarter, hitting analysts' consensus estimates of $0.75. HP had a net margin of 4.83% and a negative return on equity of 262.03%. The firm had revenue of $13.93 billion for the quarter, compared to the consensus estimate of $13.69 billion. During the same quarter in the previous year, the company earned $0.83 earnings per share. The business's revenue was up 3.1% compared to the same quarter last year. HP has set its Q4 2025 guidance at 0.870-0.97 EPS. Equities research analysts anticipate that HP Inc. will post 3.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HPQ has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of HP from $35.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday, May 29th. Zacks Research raised shares of HP from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Dbs Bank lowered shares of HP from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, June 11th. Bank of America dropped their target price on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, KGI Securities initiated coverage on shares of HP in a research report on Thursday, May 29th. They set a "neutral" rating on the stock. One analyst has rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, HP currently has a consensus rating of "Hold" and a consensus price target of $29.71.

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.

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