Oldfield Partners Llp buys $109 Million stake in HP Inc (HPQ)

HP Inc (HPQ) : Oldfield Partners Llp scooped up 2,224,200 additional shares in HP Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 9,474,109 shares of HP Inc which is valued at $109 Million.HP Inc makes up approximately 9.15% of Oldfield Partners Llp’s portfolio.

Other Hedge Funds, Including , Convergence Investment Partners reduced its stake in HPQ by selling 104,104 shares or 34.94% in the most recent quarter. The Hedge Fund company now holds 193,817 shares of HPQ which is valued at $2.2 Million. HP Inc makes up approx 0.27% of Convergence Investment Partners’s portfolio.Utah Retirement Systems reduced its stake in HPQ by selling 15,600 shares or 4.78% in the most recent quarter. The Hedge Fund company now holds 310,435 shares of HPQ which is valued at $3.6 Million. HP Inc makes up approx 0.10% of Utah Retirement Systems’s portfolio.Hosking Partners Llp boosted its stake in HPQ in the latest quarter, The investment management firm added 16,575 additional shares and now holds a total of 226,718 shares of HP Inc which is valued at $2.6 Million. HP Inc makes up approx 0.12% of Hosking Partners Llp’s portfolio. Banque Pictet Cie Sa sold out all of its stake in HPQ during the most recent quarter. The investment firm sold 127,545 shares of HPQ which is valued $1.5 Million. Badgley Phelps Bell Inc sold out all of its stake in HPQ during the most recent quarter. The investment firm sold 133,629 shares of HPQ which is valued $1.5 Million.

HP Inc opened for trading at $11.53 and hit $11.68 on the upside on Monday, eventually ending the session at $11.64, with a gain of 1.22% or 0.14 points. The heightened volatility saw the trading volume jump to 61,07,879 shares. Company has a market cap of $20,218 M.

On the company’s financial health, HP Inc reported $0.36 EPS for the quarter, based on the information available during the earnings call on Feb 24, 2016. Analyst had a consensus estimate of $0.36. The company had revenue of $12246.00 million for the quarter, compared to analysts expectations of $12031.50 million. The company’s revenue was down -11.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on HP Inc. Company shares were Reiterated by RBC Capital Mkts on Mar 14, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 12 from a previous price target of $11 .Shares were Reiterated by Barclays on Feb 25, 2016 to “Equal Weight” and Lowered the Price Target to $ 13 from a previous price target of $14 .Shares were Reiterated by Deutsche Bank on Feb 25, 2016 to “Buy” and Lowered the Price Target to $ 13 from a previous price target of $16 .

HP Inc. formerly Hewlett-Packard Company is a provider of products technologies software solutions and services to individual consumers small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems Printing the Enterprise Group Enterprise Services Software HP Financial Services and Corporate Investments. It offers personal computing and other access devices; imaging and printing related products and services; enterprise information technology (IT) infrastructure including enterprise server and storage technology networking products and solutions technology support and maintenance; multi-vendor customer services including technology consulting outsourcing and support services across infrastructure applications and business process domains and software products and solution including application testing and delivery software big data analytics information governance and IT Operations Management.

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