HP Inc. (NYSE:HPQ) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its position in shares of HP Inc. (NYSE:HPQ) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,284 shares of the computer maker’s stock after selling 18,774 shares during the quarter. Vontobel Holding Ltd.’s holdings in HP were worth $5,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC acquired a new stake in HP during the 4th quarter worth $472,000. SageView Advisory Group LLC lifted its stake in shares of HP by 6.9% in the fourth quarter. SageView Advisory Group LLC now owns 13,889 shares of the computer maker’s stock worth $405,000 after buying an additional 897 shares in the last quarter. CWM LLC boosted its position in HP by 18.7% during the first quarter. CWM LLC now owns 35,306 shares of the computer maker’s stock worth $1,067,000 after acquiring an additional 5,561 shares during the last quarter. GAMMA Investing LLC grew its stake in HP by 8.4% during the 1st quarter. GAMMA Investing LLC now owns 7,774 shares of the computer maker’s stock valued at $235,000 after acquiring an additional 604 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in HP in the 1st quarter valued at about $154,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on HPQ. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Tuesday, October 1st. Morgan Stanley dropped their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Loop Capital lowered their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Barclays decreased their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, HP currently has an average rating of “Hold” and an average price target of $35.55.

HP Stock Up 1.1 %

HPQ opened at $37.58 on Friday. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52. The business has a fifty day simple moving average of $35.28 and a 200-day simple moving average of $33.80. The firm has a market cap of $36.77 billion, a P/E ratio of 12.70, a P/E/G ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.86 earnings per share. Sell-side analysts expect 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 Company 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.