Dakota Wealth Management Trims Stake in HP Inc. (NYSE:HPQ)

Dakota Wealth Management lowered its stake in HP Inc. (NYSE:HPQ) by 1.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,007 shares of the computer maker’s stock after selling 319 shares during the quarter. Dakota Wealth Management’s holdings in HP were worth $897,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chris Bulman Inc purchased a new stake in HP in the 2nd quarter valued at approximately $88,000. Daiwa Securities Group Inc. lifted its stake in HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after buying an additional 22,909 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after acquiring an additional 80,670 shares during the last quarter. Swiss National Bank raised its holdings in HP by 1.4% in the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock valued at $85,193,000 after acquiring an additional 37,800 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in HP in the 2nd quarter valued at $621,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Trading Up 1.1 %

Shares of NYSE HPQ opened at $36.88 on Monday. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52. The company has a market cap of $36.09 billion, a P/E ratio of 12.46, a P/E/G ratio of 2.64 and a beta of 1.07. The stock has a fifty day moving average price of $35.50 and a 200 day moving average price of $34.16.

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

HP declared that its board has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on HPQ shares. 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. 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. Morgan Stanley cut their price target on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’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 transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by corporate 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.