HP Inc. (NYSE:HPQ) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its stake in HP Inc. (NYSE:HPQ) by 11.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,729,168 shares of the computer maker’s stock after selling 1,634,754 shares during the quarter. HP comprises approximately 1.0% of Pacer Advisors Inc.’s portfolio, making the stock its 21st biggest holding. Pacer Advisors Inc. owned approximately 1.30% of HP worth $445,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HPQ. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of HP by 23.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 529,356 shares of the computer maker’s stock worth $18,538,000 after purchasing an additional 100,176 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of HP by 0.9% during the second quarter. Public Employees Retirement Association of Colorado now owns 134,119 shares of the computer maker’s stock valued at $4,697,000 after buying an additional 1,200 shares during the period. Trust Investment Advisors acquired a new stake in HP during the second quarter worth approximately $205,000. Ieq Capital LLC grew its stake in HP by 22.3% in the 2nd quarter. Ieq Capital LLC now owns 60,524 shares of the computer maker’s stock worth $2,120,000 after acquiring an additional 11,038 shares during the period. Finally, Brighton Jones LLC raised its holdings in HP by 2.5% in the 2nd quarter. Brighton Jones LLC now owns 21,390 shares of the computer maker’s stock valued at $749,000 after acquiring an additional 521 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling

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 value 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. 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 currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on HPQ. JPMorgan Chase & Co. lifted their price objective on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Loop Capital lowered their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Citigroup increased their price objective on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Barclays lowered their target price 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. Finally, Bank of America increased their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, HP presently has an average rating of “Hold” and a consensus price target of $35.55.

HP Trading Down 0.2 %

Shares of HPQ stock opened at $34.76 on Friday. The company has a market cap of $34.01 billion, a PE ratio of 11.74, a P/E/G ratio of 2.23 and a beta of 1.07. The company’s fifty day simple moving average is $35.15 and its 200-day simple moving average is $33.01. HP Inc. has a 52 week low of $25.22 and a 52 week high of $39.52.

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

HP announced that its board has authorized a share buyback plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to repurchase up to 28.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.