HP Inc. (NYSE:HPQ) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC trimmed its holdings in HP Inc. (NYSE:HPQ) by 19.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 368,376 shares of the computer maker’s stock after selling 89,648 shares during the quarter. AE Wealth Management LLC’s holdings in HP were worth $12,901,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Sawyer & Company Inc raised its holdings in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares during the last quarter. Rise Advisors LLC boosted its stake in HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after buying an additional 839 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in HP in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP in the 2nd quarter worth $34,000. Finally, DecisionPoint Financial LLC purchased a new position in shares of HP during the 2nd quarter worth $43,000. 77.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $33.16, for a total value of $7,013,373.16. Following the completion of the transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HPQ shares. UBS Group raised their price objective on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup raised their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. TD Cowen upped their price objective on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Loop Capital decreased their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.55.

HP Trading Down 0.2 %

Shares of NYSE HPQ opened at $34.76 on Friday. The stock has a market capitalization of $34.01 billion, a PE ratio of 11.74, a PEG ratio of 2.23 and a beta of 1.07. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52. The stock has a fifty day simple moving average of $35.15 and a 200-day simple moving average of $33.01.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts predict that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

HP Profile

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.