Nisa Investment Advisors LLC cuts stake in HP Inc amid mixed analyst valuations and growing uncertainty in tech sector

Financial Advisors

Nisa Investment Advisors LLC, a leading American investment firm, recently released its latest filings with the Securities and Exchange Commission (SEC), cutting its position in HP Inc. (NYSE:HPQ) by 8.5% over the past year. made it clear that quarter. After the sale of 54,413 shares, the latest shares are worth $15,669,000, according to the filing, and Nisa’s ownership share has dropped significantly from 0.06% to a privately held percentage.

Based in California, HP Inc. is primarily focused on providing innovative technology products such as software, solutions and services to customers worldwide, ranging from individual consumers to large multinational corporations. It is working. We also meet the needs of the government and healthcare sector. Through Personal Systems and Printing Segments – HP offers retail POS systems, commercial tablets and mobility devices while enhancing cloud-based print management services in its printing sub-segment.

Over the past two months, several brokerage firms have made clear that in today’s complex economic environment, tech companies are becoming more vulnerable to unprecedented risks amid changing consumer preferences and tightening environmental regulations. released a report highlighting HPQ shares that have helped shape investor confidence levels in .

TheStreet lowered its rating on HP Inc stock to ‘c+’ from ‘b-‘ on Tuesday, February 28. Subsequently, reported that Morgan Stanley gave the company a “hold” rating on Thursday before raising its price target on the stock from $24.00 to $28.00, with uncertainty on Tuesday, February 21. It said it issued an underweight rating because it is getting closer. Emerging threats in the current trade conflict with China and cyber espionage activities across supply chain channels within the IT domain.

JPMorgan Chase & Co raised its share of HP Inc from Neutral to Overweight with a positive outlook, raising its price target by $5 to a maximum of $35. Meanwhile, Bank of America lowered its price target. From $27.00 he cut to $26.00, indicating a decline in confidence in the share price as weakening demand outlook and perceived pricing power in the PC market.

Bloomberg currently lists HP’s consensus rating as “hold” with a price target of around $29.50. Nonetheless, amid lingering uncertainty in the technology sector caused by supply chain disruptions caused by recent natural disasters and pandemic-related constraints, the reduction in ownership by Nisa Investment Advisors LLC is expected to help PC makers is expected to raise concerns among industry analysts about its future strategic moves. Despite these challenges, HP Inc has taken advantage of opportunities such as the localization of its product line, while continuing to pursue a government-led initiative focused on encouraging domestic technology manufacturing that could increase its growth potential over the next few years. can work with the initiative of Therefore, investors should analyze key metrics such as net profit margins, cash and equivalent holdings combined with sales trends across major verticals before making long-term decisions about HPQ’s position in their portfolios. expected to play a role.

HP Inc’s recent financial activity and insider trading raises questions in the tech industry investment community

HP Inc’s recent financial activity, which has involved hedge funds and other institutional investors buying and selling shares of computer makers, has rocked the technology industry investment community. Several hedge funds and institutional investors sold or bought additional stake in HP Inc in the first quarter of 2023, according to recent SEC filings.Cantor Fitzgerald Investment Advisor LP acquired an additional 413,491 shares for a total of 873,243 shares, valued at $31,698,000. The Canada Pension Plan Investment Board did as well, and he purchased an additional 97,178 shares during the period, for a total of 305,877 shares worth $11,103,000.

Prudential PLC joined the trend by purchasing approximately $892,000 worth of new shares, and Cetera Investment Advisers acquired an additional 1,121 shares during this period, bringing its total shares to 17,651 shares worth $641,000. Sequoia Financial Advisors LLC also bought new stock in HP Inc for about $309,000, so it wasn’t left behind.

HP Inc provides products and services to a diverse range of consumers around the world. The company’s Personal Systems segment offers commercial PCs for businesses of all sizes, as well as consumer PCs and mobile devices. The Printing segment includes printing hardware such as printers and scanners and accessories such as ink cartridges and toners. HPQ is currently trading at $29.63 on the NYSE and has a market capitalization of approximately $29.2 billion.

Recent insider trading has also seen large-scale sales by executives. CEO Enrique Lores sold 38,000 shares worth $1 million on Monday, April 3, while CFO Marie Myers sold about $500,000 each, surrounded by SEC filings that same week. sold a total of 7,380 shares valued at $214,000.

HPQ’s recent earnings report showed that total revenue fell 18.8% year-over-year in the first quarter of 2023, while earnings per share (EPS) for the quarter was $0.75, beating analyst estimates and positive. shows the numerical value of Projecting a potential EPS of 3.31 per year, we can’t help but keep our eyes peeled and see what else this tech heavyweight has in store for the next few quarters.

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