HP Inc. (NYSE:HPQ) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA lowered its position in shares of HP Inc. (NYSE:HPQ) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,017 shares of the computer maker’s stock after selling 4,787 shares during the period. GLOBALT Investments LLC GA’s holdings in HP were worth $6,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LVW Advisors LLC raised its stake in HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares during the period. Castleview Partners LLC grew its holdings in HP by 8.1% during the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after acquiring an additional 289 shares in the last quarter. Versant Capital Management Inc grew its holdings in HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after acquiring an additional 297 shares in the last quarter. Arvest Investments Inc. grew its holdings in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after acquiring an additional 310 shares in the last quarter. Finally, WMG Financial Advisors LLC boosted its holdings in shares of HP by 4.2% in the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after buying an additional 315 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Morgan Stanley decreased their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. 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. 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.55.

Insider Transactions at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business’s 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 in the company, valued at approximately $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.

HP Price Performance

HP stock opened at $36.72 on Monday. The firm’s 50 day simple moving average is $35.97 and its 200-day simple moving average is $35.08. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52. The company has a market cap of $35.39 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

HP (NYSE:HPQ) last posted its 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 the consensus estimate 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 period in the prior year, the firm earned $0.86 earnings per share. On average, analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

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