HP Inc. (NYSE:HPQ) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC decreased its position in HP Inc. (NYSE:HPQ) by 36.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 30,043 shares of the computer maker’s stock after selling 17,437 shares during the period. Stoneridge Investment Partners LLC’s holdings in HP were worth $1,078,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HPQ. Vanguard Group Inc. lifted its holdings in shares of HP by 2.6% in the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in HP in the 2nd quarter valued at approximately $62,672,000. DAVENPORT & Co LLC grew its holdings in HP by 10,188.2% during the 1st quarter. DAVENPORT & Co LLC now owns 1,777,912 shares of the computer maker’s stock valued at $53,680,000 after buying an additional 1,760,631 shares during the last quarter. DME Capital Management LP increased its position in HP by 108.7% during the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock worth $118,124,000 after buying an additional 1,757,070 shares in the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of HP by 6.2% in the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock worth $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on HPQ. Barclays decreased their price objective 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. Morgan Stanley cut their price objective on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday, October 1st. Finally, Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.55.

Insider Buying and Selling

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

HP Price Performance

Shares of NYSE:HPQ opened at $35.99 on Tuesday. The firm has a market capitalization of $34.68 billion, a PE ratio of 12.63, a P/E/G ratio of 2.48 and a beta of 1.07. HP Inc. has a 12 month low of $27.01 and a 12 month high of $39.52. The business has a 50-day moving average of $35.66 and a two-hundred day moving average of $34.51.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in 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 typically a sign that the company’s management 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.