Metis Global Partners LLC Has $1.88 Million Stock Position in HP Inc. (NYSE:HPQ)

Metis Global Partners LLC boosted its position in shares of HP Inc. (NYSE:HPQ) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,443 shares of the computer maker’s stock after purchasing an additional 1,464 shares during the period. Metis Global Partners LLC’s holdings in HP were worth $1,881,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in HP during the third quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new stake in HP during the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP during the second quarter valued at approximately $34,000. Wolff Wiese Magana LLC boosted its holdings in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after purchasing an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in HP during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the topic of several recent analyst reports. Morgan Stanley reduced their target price on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. UBS Group upped their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Loop Capital reduced their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.55.

Insider Transactions at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction on 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by company insiders.

HP Trading Up 0.6 %

Shares of HPQ opened at $36.72 on Friday. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52. The firm’s 50 day moving average is $35.91 and its 200-day moving average is $34.92. The stock has a market capitalization of $35.39 billion, a PE ratio of 12.88, a P/E/G ratio of 2.52 and a beta of 1.07.

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). The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 EPS. Equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are 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.