Metis Global Partners LLC Grows Holdings in HP Inc. (NYSE:HPQ)

Metis Global Partners LLC raised its holdings in shares of HP Inc. (NYSE:HPQ) by 2.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,443 shares of the computer maker’s stock after purchasing an additional 1,464 shares during the quarter. Metis Global Partners LLC’s holdings in HP were worth $1,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of HPQ. Chris Bulman Inc bought a new stake in shares of HP during the 2nd quarter valued at $88,000. Principal Financial Group Inc. lifted its stake in HP by 16.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker’s stock worth $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in HP in the 2nd quarter worth approximately $621,000. Cetera Investment Advisers increased its holdings in shares of HP by 154.7% in the first quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker’s stock worth $3,309,000 after purchasing an additional 66,510 shares during the period. Finally, National Pension Service boosted its stake in HP by 24.1% during the third quarter. National Pension Service now owns 2,162,772 shares of the computer maker’s stock valued at $77,579,000 after buying an additional 419,774 shares during the period. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HPQ. UBS Group boosted their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital lowered their price target 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. JPMorgan Chase & Co. increased their price objective on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Citigroup downgraded shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.55.

Insider Activity at HP

In other news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated 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 trade was 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 accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

HP Stock Performance

HPQ stock opened at $36.72 on Friday. The firm has a fifty day moving average price of $35.91 and a 200 day moving average price of $34.92. The firm has a market cap of $35.39 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last released its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. During the same quarter last year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has authorized a share buyback program on Wednesday, August 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are 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.