HP Inc. (NYSE:HPQ) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in HP Inc. (NYSE:HPQ) by 47.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,587 shares of the computer maker’s stock after selling 146,275 shares during the quarter. Intech Investment Management LLC’s holdings in HP were worth $5,694,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sawyer & Company Inc raised its holdings in HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. Rise Advisors LLC raised its holdings in HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after acquiring an additional 839 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in HP in the second quarter valued at approximately $34,000. Finally, DecisionPoint Financial LLC acquired a new stake in HP in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Insider Activity at HP

In related 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 value of $7,013,373.16. Following the transaction, the chief executive officer now directly owns 3 shares in the company, valued at approximately $99.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by insiders.

HP Trading Down 0.2 %

Shares of HPQ opened at $34.76 on Friday. The company’s 50 day simple moving average is $35.15 and its 200-day simple moving average is $33.04. HP Inc. has a 12-month low of $25.22 and a 12-month high of $39.52. The firm has a market cap of $34.01 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.07.

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 analysts’ consensus estimates of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter last year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that HP Inc. will post 3.39 EPS for the current fiscal year.

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

Wall Street Analyst Weigh In

Several brokerages have commented on HPQ. 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 note on Thursday, August 29th. TD Cowen increased their price target on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. UBS Group increased their price target 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. Finally, Wells Fargo & Company increased their price target on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, HP currently has a consensus rating of “Hold” and a consensus target price of $35.55.

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.