Clark Estates Inc. NY Sells 7,900 Shares of HP Inc. (NYSE:HPQ)

Clark Estates Inc. NY decreased its stake in HP Inc. (NYSE:HPQ) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 98,100 shares of the computer maker’s stock after selling 7,900 shares during the period. Clark Estates Inc. NY’s holdings in HP were worth $3,519,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC purchased a new position in HP in the second quarter valued at approximately $62,672,000. DME Capital Management LP lifted its position in shares of HP by 108.7% during the 2nd quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker’s stock valued at $118,124,000 after buying an additional 1,757,070 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of HP by 11.4% during the 3rd quarter. Pacer Advisors Inc. now owns 14,184,306 shares of the computer maker’s stock worth $508,791,000 after acquiring an additional 1,455,138 shares during the period. Primecap Management Co. CA increased its holdings in HP by 6.2% in the 2nd 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. Finally, Bridgewater Associates LP raised its stake in HP by 2,649.5% in the 3rd quarter. Bridgewater Associates LP now owns 1,318,599 shares of the computer maker’s stock valued at $47,298,000 after acquiring an additional 1,270,642 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Price Performance

Shares of HPQ opened at $39.08 on Wednesday. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.79. The company has a market capitalization of $37.66 billion, a P/E ratio of 13.71, a P/E/G ratio of 2.70 and a beta of 1.07. The firm’s 50 day simple moving average is $36.56 and its 200 day simple moving average is $35.53.

HP (NYSE:HPQ) last posted its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $14.06 billion for the quarter, compared to analysts’ expectations of $13.99 billion. During the same quarter last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its Board of Directors has approved a share repurchase program on Wednesday, August 28th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. 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 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 report on Thursday, August 29th. Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, September 27th. Finally, Loop Capital dropped their price objective on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.45.

Insider Activity

In other HP news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred 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 directly owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.