HP Inc. (NYSE:HPQ) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC decreased its holdings in HP Inc. (NYSE:HPQ) by 36.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 30,043 shares of the computer maker’s stock after selling 17,437 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in HP were worth $1,078,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HPQ. Triad Wealth Partners LLC purchased a new position in shares of HP during the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in HP during the 2nd quarter valued at $34,000. Wolff Wiese Magana LLC grew its holdings in HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after acquiring an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter worth $37,000. Finally, DecisionPoint Financial LLC bought a new stake in shares of HP in the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction dated 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

HP Stock Down 0.8 %

HP stock opened at $35.99 on Tuesday. HP Inc. has a 52-week low of $27.01 and a 52-week high of $39.52. The firm has a market capitalization of $34.68 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.48 and a beta of 1.07. The firm has a 50-day moving average price of $35.66 and a two-hundred day moving average price of $34.51.

HP (NYSE:HPQ) last issued its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Research analysts expect that HP Inc. will post 3.39 earnings per share for the current year.

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

Analysts Set New Price Targets

HPQ has been the topic of several research analyst reports. UBS Group increased their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, October 1st. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Thursday, August 29th. Loop Capital decreased their price objective on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average 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.