HP Inc. (NYSE:HPQ) Shares Sold by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC trimmed its position in HP Inc. (NYSE:HPQ) by 11.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,790 shares of the computer maker’s stock after selling 850 shares during the period. Plimoth Trust Co. LLC’s holdings in HP were worth $244,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sawyer & Company Inc grew its holdings in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of HP during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of HP during the second quarter valued at about $34,000. Wolff Wiese Magana LLC lifted its holdings in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in HP in the third quarter worth about $37,000. 77.53% of the stock is currently owned by institutional investors and hedge funds.

HP Price Performance

NYSE HPQ traded down $0.82 on Monday, hitting $36.46. 5,593,460 shares of the company were exchanged, compared to its average volume of 7,886,076. The company’s 50 day moving average price is $35.36 and its 200-day moving average price is $33.91. The firm has a market capitalization of $35.68 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 2.67 and a beta of 1.07. HP Inc. has a twelve month low of $25.67 and a twelve month high of $39.52.

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

HP announced that its board has approved a stock buyback program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

HPQ has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. UBS Group upped their target price on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Friday, September 27th. Citigroup downgraded HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Finally, Morgan Stanley decreased their target price on HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $35.55.

Insider Activity 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 transaction of $7,013,373.16. Following the completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by insiders.

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.