Maj Invest Holding A S Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Maj Invest Holding A S decreased its holdings in shares of HP Inc. (NYSE:HPQ) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,233,707 shares of the computer maker’s stock after selling 782,601 shares during the period. HP accounts for about 5.0% of Maj Invest Holding A S’s holdings, making the stock its 7th largest holding. Maj Invest Holding A S owned about 0.53% of HP worth $187,733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Optimist Retirement Group LLC bought a new position in HP in the fourth quarter worth $1,855,000. Quarry LP bought a new position in shares of HP in the 4th quarter worth about $87,000. Voisard Asset Management Group Inc. purchased a new position in HP during the 4th quarter valued at about $84,000. GLOBALT Investments LLC GA bought a new stake in HP during the fourth quarter worth about $5,729,000. Finally, V Square Quantitative Management LLC grew its holdings in HP by 32.9% in the fourth quarter. V Square Quantitative Management LLC now owns 15,759 shares of the computer maker’s stock worth $474,000 after purchasing an additional 3,904 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by company insiders.

HP Price Performance

HPQ stock opened at $37.02 on Friday. The company has a market capitalization of $36.23 billion, a PE ratio of 12.51, a P/E/G ratio of 2.67 and a beta of 1.07. HP Inc. has a 12 month low of $25.67 and a 12 month high of $39.52. The firm’s 50-day moving average is $34.91 and its 200 day moving average is $33.61.

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

HP announced that its Board of Directors has approved a share buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Barclays cut their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. UBS Group lifted their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Tuesday, October 1st. 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 report on Thursday, August 29th. Finally, Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $35.55.

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.