American Century Companies Inc. Has $158.85 Million Holdings in HP Inc. (NYSE:HPQ)

American Century Companies Inc. cut its stake in HP Inc. (NYSE:HPQ) by 10.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,535,897 shares of the computer maker’s stock after selling 521,173 shares during the period. American Century Companies Inc. owned about 0.46% of HP worth $158,847,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sawyer & Company Inc raised its holdings in shares of HP by 900.0% in 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 increased its holdings in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in HP during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the 2nd quarter valued at $34,000. Finally, Hantz Financial Services Inc. acquired a new stake in HP during the 2nd quarter valued at $48,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on HPQ. JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. TD Cowen raised their price target on HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. UBS Group raised 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. Loop Capital dropped their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Bank of America increased their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, HP currently has a consensus rating of “Hold” and an average price target of $35.55.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the sale, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

HP Stock Down 0.8 %

NYSE:HPQ opened at $33.11 on Friday. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The firm has a market capitalization of $32.40 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.26 and a beta of 1.07. The stock’s fifty day simple moving average is $35.32 and its 200-day simple moving average is $32.79.

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

HP announced that its Board of Directors has approved a stock 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.