Patton Albertson Miller Group LLC Grows Position in HP Inc. (NYSE:HPQ)

Patton Albertson Miller Group LLC raised its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,059 shares of the computer maker's stock after acquiring an additional 29,369 shares during the period. Patton Albertson Miller Group LLC's holdings in HP were worth $4,636,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of HP by 12.3% during the 3rd quarter. Vanguard Group Inc. now owns 117,509,674 shares of the computer maker's stock worth $3,019,999,000 after acquiring an additional 12,883,347 shares in the last quarter. Pacer Advisors Inc. lifted its position in HP by 4,180.9% in the fourth quarter. Pacer Advisors Inc. now owns 9,516,510 shares of the computer maker's stock valued at $286,352,000 after acquiring an additional 9,294,209 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in HP by 145.9% in the third quarter. Qube Research & Technologies Ltd now owns 6,090,872 shares of the computer maker's stock valued at $156,535,000 after acquiring an additional 3,613,742 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of HP by 104.6% during the third quarter. Hsbc Holdings PLC now owns 4,352,558 shares of the computer maker's stock worth $112,014,000 after purchasing an additional 2,225,530 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of HP during the third quarter worth about $54,302,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Stock Performance

HP stock traded up $0.08 during trading on Friday, reaching $29.73. 4,972,117 shares of the company's stock were exchanged, compared to its average volume of 7,731,873. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90. The company's 50-day moving average is $29.22 and its two-hundred day moving average is $28.96. The firm has a market cap of $29.15 billion, a price-to-earnings ratio of 8.70, a PEG ratio of 2.36 and a beta of 1.06.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, hitting analysts' consensus estimates of $0.81. The firm had revenue of $13.19 billion during the quarter, compared to analysts' expectations 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 prior year, the business earned $0.75 EPS. Analysts anticipate that HP Inc. will post 3.42 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other HP news, Director Robert R. Bennett sold 67,000 shares of the business's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares of the company's stock, valued at approximately $1,807,082.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $30.93, for a total transaction of $269,338.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction 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 directly 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 have sold 116,723 shares of company stock worth $3,479,287 in the last quarter. 0.41% of the stock is owned by corporate insiders.

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.

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