Mutual of America Capital Management LLC Has $3.81 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Mutual of America Capital Management LLC lowered its position in shares of HP Inc. (NYSE:HPQ) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,838 shares of the computer maker’s stock after selling 5,489 shares during the quarter. Mutual of America Capital Management LLC’s holdings in HP were worth $3,812,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Triad Wealth Partners LLC bought a new stake in shares of HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP during the 2nd quarter worth about $34,000. Sawyer & Company Inc lifted its position in HP by 900.0% during the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares in the last quarter. Rise Advisors LLC boosted its stake in shares of HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after buying an additional 839 shares during the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of HP in the 2nd quarter valued at about $48,000. 77.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HPQ. Loop Capital dropped their target price on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. 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 note on Friday, August 23rd. Morgan Stanley decreased 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. Bank of America upped their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, UBS Group lifted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.55.

HP Stock Performance

Shares of HPQ stock opened at $34.76 on Monday. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52. The company has a market capitalization of $34.01 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.23 and a beta of 1.07. The company has a 50-day simple moving average of $35.15 and a 200 day simple moving average of $33.06.

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 analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Sell-side analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has initiated a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to buy up to 28.9% of its stock through open market purchases. Stock buyback programs are often an indication 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.