HP Inc. (NYSE:HPQ) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC lowered its stake in shares of HP Inc. (NYSE:HPQ) by 16.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,365 shares of the computer maker’s stock after selling 2,175 shares during the quarter. My Legacy Advisors LLC’s holdings in HP were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Chris Bulman Inc acquired a new position in HP during the 2nd quarter worth $88,000. Daiwa Securities Group Inc. lifted its position in shares of HP by 27.5% during the first quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock worth $3,213,000 after purchasing an additional 22,909 shares during the last quarter. State of Alaska Department of Revenue grew its stake in HP by 85.9% in the first quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock worth $5,275,000 after purchasing an additional 80,670 shares in the last quarter. Swiss National Bank increased its holdings in HP by 1.4% in the first quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after buying an additional 37,800 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in HP during the second quarter valued at approximately $621,000. Institutional investors own 77.53% of the company’s stock.

HP Stock Performance

Shares of HPQ stock opened at $36.23 on Wednesday. The firm has a market capitalization of $35.45 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07. HP Inc. has a 1 year low of $25.67 and a 1 year high of $39.52. The stock has a fifty day moving average of $35.44 and a two-hundred day moving average of $34.01.

HP (NYSE:HPQ) last announced its earnings results 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 company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HPQ. UBS Group boosted their price target on 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 for the company in a research note on Thursday, August 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, September 27th. Morgan Stanley dropped their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Loop Capital lowered their target price on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by insiders.

About HP

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.