HP Inc. (NYSE:HPQ) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC reduced its stake in HP Inc. (NYSE:HPQ) by 13.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,182 shares of the computer maker’s stock after selling 943 shares during the period. SteelPeak Wealth LLC’s holdings in HP were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in HPQ. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of HP by 7.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,278,175 shares of the computer maker’s stock worth $68,846,000 after acquiring an additional 148,298 shares during the period. Norden Group LLC acquired a new stake in shares of HP in the 1st quarter worth approximately $665,000. First Trust Direct Indexing L.P. raised its holdings in shares of HP by 7.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 30,498 shares of the computer maker’s stock worth $922,000 after purchasing an additional 2,086 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of HP by 2.8% in the 1st quarter. Maryland State Retirement & Pension System now owns 67,807 shares of the computer maker’s stock worth $1,877,000 after purchasing an additional 1,833 shares in the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of HP by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 192,462 shares of the computer maker’s stock worth $5,816,000 after purchasing an additional 793 shares in the last quarter. 77.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 3 shares in the company, valued at $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

HP Stock Up 2.1 %

HPQ stock opened at $36.28 on Friday. HP Inc. has a 12-month low of $26.67 and a 12-month high of $39.52. The company has a market cap of $34.96 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 2.66 and a beta of 1.07. The company has a 50 day moving average of $35.65 and a two-hundred day moving average of $34.36.

HP (NYSE:HPQ) last released 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). 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 analysts’ expectations of $13.37 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

HP declared that its board has initiated a share repurchase 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 repurchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays dropped their target price on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Loop Capital reduced their price target on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.55.

About HP

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.