Foundation Resource Management Inc Lowers stake in HP Inc (HPQ)

HP Inc (HPQ) : Foundation Resource Management Inc reduced its stake in HP Inc by 0.22% during the most recent quarter end. The investment management company now holds a total of 677,887 shares of HP Inc which is valued at $10,595,374 after selling 1,500 shares in HP Inc , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.HP Inc makes up approximately 1.91% of Foundation Resource Management Inc’s portfolio.

Other Hedge Funds, Including , Franklin Street Advisors Inc Nc reduced its stake in HPQ by selling 1,000 shares or 7.66% in the most recent quarter. The Hedge Fund company now holds 12,050 shares of HPQ which is valued at $188,342. HP Inc makes up approx 0.03% of Franklin Street Advisors Inc Nc’s portfolio.Eqis Capital Management boosted its stake in HPQ in the latest quarter, The investment management firm added 9,399 additional shares and now holds a total of 25,635 shares of HP Inc which is valued at $400,675. HP Inc makes up approx 0.03% of Eqis Capital Management’s portfolio.Washington Trust Bank boosted its stake in HPQ in the latest quarter, The investment management firm added 300 additional shares and now holds a total of 1,353 shares of HP Inc which is valued at $21,147. HP Inc makes up approx 0.01% of Washington Trust Bank’s portfolio.Cacti Asset Management reduced its stake in HPQ by selling 5,000 shares or 13.89% in the most recent quarter. The Hedge Fund company now holds 31,000 shares of HPQ which is valued at $484,530. HP Inc makes up approx 0.05% of Cacti Asset Management’s portfolio.

HP Inc closed down -0.29 points or -1.85% at $15.36 with 1,23,13,889 shares getting traded on Tuesday. Post opening the session at $15.68, the shares hit an intraday low of $15.27 and an intraday high of $15.74 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, HP Inc reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $0.45. The company had revenue of $11892.00 million for the quarter, compared to analysts expectations of $11491.65 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.88 EPS.

Many Wall Street Analysts have commented on HP Inc. Shares were Downgraded by Maxim Group on Aug 25, 2016 to ” Hold” and Lowered the Price Target to $ 15 from a previous price target of $17 .Company shares were Reiterated by RBC Capital Mkts on Aug 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 14 from a previous price target of $12 .

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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