Mercer Global Advisors Inc. ADV Sells 22,688 Shares of HP Inc. (NYSE:HPQ)

Mercer Global Advisors Inc. ADV lessened its stake in shares of HP Inc. (NYSE:HPQ) by 7.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 291,442 shares of the computer maker’s stock after selling 22,688 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in HP were worth $10,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HPQ. Sawyer & Company Inc lifted its position in HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after acquiring an additional 900 shares during the last quarter. Rise Advisors LLC increased its stake in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after purchasing an additional 839 shares during the period. Triad Wealth Partners LLC acquired a new stake in HP during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in HP in the 2nd quarter valued at $34,000. Finally, DecisionPoint Financial LLC bought a new position in HP during the 2nd quarter worth $43,000. Institutional investors own 77.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HPQ. Morgan Stanley reduced their target price 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. Barclays cut their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. TD Cowen lifted their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Citigroup increased their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Finally, Bank of America raised their price objective on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, HP presently has an average rating of “Hold” and a consensus target price of $35.55.

Insider Transactions at HP

In related news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

HP Stock Up 0.8 %

NYSE:HPQ opened at $34.82 on Friday. HP Inc. has a twelve month low of $25.22 and a twelve month high of $39.52. The stock’s 50-day simple moving average is $35.19 and its 200 day simple moving average is $32.97. The firm has a market capitalization of $34.07 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. 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 business posted $0.86 earnings per share. On average, analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its board has initiated a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is 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.