HP Inc. (NYSE:HPQ) Position Reduced by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC trimmed its stake in HP Inc. (NYSE:HPQ) by 5.2% during the third quarter, HoldingsChannel.com reports. The fund owned 9,469 shares of the computer maker’s stock after selling 523 shares during the period. OneDigital Investment Advisors LLC’s holdings in HP were worth $340,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in HP in the first quarter worth $160,000. CreativeOne Wealth LLC lifted its holdings in HP by 79.8% during the first quarter. CreativeOne Wealth LLC now owns 23,615 shares of the computer maker’s stock worth $713,000 after acquiring an additional 10,481 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of HP by 0.9% in the first quarter. Toronto Dominion Bank now owns 541,667 shares of the computer maker’s stock valued at $16,369,000 after buying an additional 4,799 shares during the period. Epoch Investment Partners Inc. raised its position in HP by 8.1% in the 1st quarter. Epoch Investment Partners Inc. now owns 20,599 shares of the computer maker’s stock valued at $623,000 after buying an additional 1,549 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in HP by 3,567.3% during the 1st quarter. Lazard Asset Management LLC now owns 34,143 shares of the computer maker’s stock worth $1,030,000 after buying an additional 33,212 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $33.16, for a total transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HPQ shares. 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 report on Thursday, August 29th. JPMorgan Chase & Co. cut their target price on HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. UBS Group increased their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Bank of America downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.45.

HP Stock Up 3.4 %

Shares of NYSE:HPQ opened at $37.93 on Friday. The business’s 50 day moving average is $36.26 and its 200 day moving average is $35.24. The stock has a market cap of $36.55 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.52.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business 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 for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. On average, sell-side analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

HP 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.