Stephens Inc. AR Sells 448 Shares of HP Inc. (NYSE:HPQ)

Stephens Inc. AR decreased its position in shares of HP Inc. (NYSE:HPQ) by 2.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,994 shares of the computer maker’s stock after selling 448 shares during the period. Stephens Inc. AR’s holdings in HP were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HPQ. Vanguard Group Inc. lifted its position in HP by 2.6% during the first 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 period. Primecap Management Co. CA raised its position in HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the period. LSV Asset Management raised its position in HP by 3.3% in the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock worth $383,028,000 after acquiring an additional 403,355 shares during the period. Legal & General Group Plc raised its position in HP by 11.3% in the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock worth $375,079,000 after acquiring an additional 1,089,848 shares during the period. Finally, Bank of New York Mellon Corp raised its position in HP by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock worth $294,253,000 after acquiring an additional 287,861 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of HP 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 directly 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. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group increased their price target 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. Loop Capital reduced their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Bank of America cut 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 Friday, September 27th. Morgan Stanley reduced their price objective 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. Finally, Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, HP currently has an average rating of “Hold” and an average price target of $35.55.

HP Stock Performance

HPQ opened at $36.91 on Thursday. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 12.95, a PEG ratio of 2.46 and a beta of 1.07. The company has a fifty day moving average of $35.72 and a 200 day moving average of $34.59. HP Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last posted 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 company 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. On average, equities research analysts forecast that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership 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.