DekaBank Deutsche Girozentrale Has $27.04 Million Stock Holdings in HP Inc. (NYSE:HPQ)

DekaBank Deutsche Girozentrale reduced its stake in HP Inc. (NYSE:HPQ) by 13.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 768,305 shares of the computer maker’s stock after selling 116,195 shares during the period. DekaBank Deutsche Girozentrale’s holdings in HP were worth $27,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HPQ. Triad Wealth Partners LLC acquired a new position in HP in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP in the second quarter valued at approximately $34,000. Wolff Wiese Magana LLC increased its stake in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. ORG Wealth Partners LLC acquired a new stake in HP during the 3rd quarter worth approximately $37,000. Finally, DecisionPoint Financial LLC bought a new stake in HP in the 2nd quarter valued at $43,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. UBS Group boosted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays lowered 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. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Tuesday, October 1st. Finally, Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, HP currently has an average rating of “Hold” and an average target price of $35.55.

HP Stock Up 1.5 %

NYSE:HPQ opened at $37.42 on Tuesday. HP Inc. has a twelve month low of $25.90 and a twelve month high of $39.52. The stock’s 50-day simple moving average is $35.56 and its 200 day simple moving average is $34.22. The firm has a market capitalization of $36.62 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.64 and a beta of 1.07.

HP (NYSE:HPQ) last posted its quarterly 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). The company 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 company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

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

Insider Transactions at HP

In related 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 transaction of $7,013,373.16. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

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.