B. Metzler seel. Sohn & Co. Holding AG Invests $3.59 Million in HP Inc. (NYSE:HPQ)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of HP Inc. (NYSE:HPQ - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 100,147 shares of the computer maker's stock, valued at approximately $3,592,000.

Other institutional investors have also modified their holdings of the company. Primecap Management Co. CA raised its holdings in HP by 6.2% in the 2nd quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker's stock valued at $786,237,000 after acquiring an additional 1,319,731 shares during the last quarter. Legal & General Group Plc lifted its position in HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker's stock worth $375,079,000 after buying an additional 1,089,848 shares during the period. Bank of New York Mellon Corp grew its holdings in HP by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker's stock valued at $294,253,000 after buying an additional 287,861 shares during the period. AQR Capital Management LLC increased its stake in shares of HP by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 5,359,174 shares of the computer maker's stock valued at $186,928,000 after acquiring an additional 213,116 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of HP by 4.1% during the 3rd quarter. AustralianSuper Pty Ltd now owns 4,199,076 shares of the computer maker's stock worth $150,621,000 after acquiring an additional 165,407 shares during the period. Institutional investors and hedge funds own 77.53% of the company's stock.

Insiders Place Their Bets

In related news, CEO Enrique Lores sold 211,501 shares of the firm'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 transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by company insiders.

HP Stock Down 0.5 %

NYSE HPQ opened at $36.70 on Thursday. The stock has a market cap of $35.36 billion, a PE ratio of 12.88, a P/E/G ratio of 2.52 and a beta of 1.07. The business has a 50 day moving average price of $36.17 and a two-hundred day moving average price of $35.22. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52.

HP (NYSE:HPQ - Get Free Report) last released 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). 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 for the quarter, compared to analyst estimates of $13.37 billion. During the same period in the previous year, the business posted $0.86 earnings per share. HP's revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of HP from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Wednesday. UBS Group increased their target price on 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 price target for the company. in a research note on Tuesday, October 1st. Bank of America cut HP from a "buy" rating to a "neutral" rating and set a $37.00 target price for the company. in a report on Friday, September 27th. Finally, Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $35.45.

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.