HP Inc. (NYSE:HPQ) Holdings Decreased by Denali Advisors LLC

Denali Advisors LLC cut its position in shares of HP Inc. (NYSE:HPQ) by 20.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,968 shares of the computer maker’s stock after selling 6,239 shares during the quarter. Denali Advisors LLC’s holdings in HP were worth $874,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its position in shares of HP by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 401,809 shares of the computer maker’s stock worth $12,090,000 after buying an additional 4,102 shares during the last quarter. Chris Bulman Inc bought a new position in HP in the second quarter worth about $88,000. Daiwa Securities Group Inc. boosted its stake in HP by 27.5% in the first quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker’s stock valued at $3,213,000 after acquiring an additional 22,909 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of HP by 85.9% during the first quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker’s stock valued at $5,275,000 after purchasing an additional 80,670 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of HP by 1.4% during the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker’s stock worth $85,193,000 after purchasing an additional 37,800 shares during the period. 77.53% of the stock is currently owned by institutional investors.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Alex Cho sold 173,137 shares of the company’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 transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Enrique Lores sold 211,501 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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 $99.48. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

HP Stock Performance

HP stock opened at $33.76 on Tuesday. HP Inc. has a 1 year low of $25.22 and a 1 year high of $39.52. The firm’s 50 day moving average price is $35.26 and its two-hundred day moving average price is $32.91. The firm has a market cap of $33.04 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last announced its 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). The company 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 firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. As a group, equities analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its board has authorized a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HPQ shares. Bank of America boosted 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. Citigroup boosted their target price on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted 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. Barclays decreased their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Finally, TD Cowen lifted their target price on HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price 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.