Freestone Grove Partners LP Invests $50.96 Million in HP Inc. (NYSE:HPQ)

Freestone Grove Partners LP purchased a new position in shares of HP Inc. (NYSE:HPQ - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,561,656 shares of the computer maker's stock, valued at approximately $50,957,000. Freestone Grove Partners LP owned about 0.17% of HP at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HPQ. Synergy Asset Management LLC purchased a new position in HP during the fourth quarter valued at $26,000. Stonebridge Financial Group LLC bought a new stake in HP during the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in HP during the fourth quarter valued at $36,000. OFI Invest Asset Management purchased a new stake in HP in the 4th quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in HP in the 4th quarter worth $50,000. 77.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on HPQ. Barclays lifted their price target on shares of HP from $35.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. Evercore ISI lowered their price objective on HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Loop Capital cut their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. cut their price target on HP from $40.00 to $29.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, StockNews.com downgraded shares of HP from a "buy" rating to a "hold" rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $33.83.

Insider Activity at HP

In other news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction on Thursday, March 27th. The stock was 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. This trade represents a 99.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

HP Price Performance

Shares of NYSE:HPQ traded down $0.12 during midday trading on Tuesday, reaching $25.79. The company had a trading volume of 1,742,658 shares, compared to its average volume of 7,814,379. The stock has a market capitalization of $24.31 billion, a P/E ratio of 9.19, a PEG ratio of 2.96 and a beta of 1.32. HP Inc. has a one year low of $21.21 and a one year high of $39.80. The stock's fifty day moving average price is $26.61 and its 200-day moving average price is $31.81.

HP (NYSE:HPQ - Get Free Report) last issued its earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting analysts' consensus estimates of $0.74. The company had revenue of $13.50 billion during the quarter, compared to the consensus estimate of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. As a group, sell-side analysts forecast that HP Inc. will post 3.56 earnings per share for the current year.

About HP

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.