Advisory Alpha LLC Has $340,000 Stock Holdings in HP Inc. (NYSE:HPQ)

Advisory Alpha LLC cut its holdings in shares of HP Inc. (NYSE:HPQ) by 14.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,706 shares of the computer maker’s stock after selling 1,699 shares during the period. Advisory Alpha LLC’s holdings in HP were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in HP by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of HP by 1,472.4% during the fourth quarter. Schroder Investment Management Group now owns 2,264,081 shares of the computer maker’s stock valued at $68,126,000 after buying an additional 2,120,096 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in HP during the second quarter worth $62,672,000. DAVENPORT & Co LLC raised its position in HP by 10,188.2% in the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after buying an additional 1,760,631 shares during the last quarter. Finally, DME Capital Management LP lifted its stake in HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after acquiring an additional 1,757,070 shares in the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the subject of several analyst reports. Barclays lowered their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Tuesday. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, September 27th. JPMorgan Chase & Co. increased their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Loop Capital cut their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $35.55.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was 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 directly owns 3 shares of the company’s stock, valued at $99.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of NYSE HPQ opened at $35.17 on Thursday. The stock has a market capitalization of $34.42 billion, a PE ratio of 11.88, a P/E/G ratio of 2.35 and a beta of 1.07. HP Inc. has a one year low of $25.59 and a one year high of $39.52. The business’s fifty day moving average price is $34.82 and its 200-day moving average price is $33.32.

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

HP declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

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.