Mediolanum International Funds Ltd Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Mediolanum International Funds Ltd cut its stake in HP Inc. (NYSE:HPQ) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 57,919 shares of the computer maker’s stock after selling 1,745 shares during the quarter. Mediolanum International Funds Ltd’s holdings in HP were worth $2,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LVW Advisors LLC boosted its stake in shares of HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after buying an additional 278 shares during the period. Castleview Partners LLC raised its holdings in HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its stake in HP by 5.9% in the third quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares during the last quarter. WMG Financial Advisors LLC increased its position in shares of HP by 4.2% in the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after purchasing an additional 315 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of HP by 2.9% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after purchasing an additional 345 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HPQ. Morgan Stanley lowered their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. UBS Group raised their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday, October 1st. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.55.

HP Trading Up 1.1 %

Shares of HPQ opened at $36.88 on Friday. The company’s 50 day simple moving average is $35.50 and its 200-day simple moving average is $34.12. The firm has a market cap of $35.54 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $13.37 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its board has approved a stock buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by insiders.

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.