Plato Investment Management Ltd Has $1.15 Million Stake in HP Inc. (NYSE:HPQ)

Plato Investment Management Ltd lessened its holdings in HP Inc. (NYSE:HPQ - Free Report) by 54.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,072 shares of the computer maker's stock after selling 37,577 shares during the quarter. Plato Investment Management Ltd's holdings in HP were worth $1,149,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Chris Bulman Inc bought a new position in HP during the second quarter valued at approximately $88,000. Principal Financial Group Inc. grew its position in shares of HP by 16.1% during the third quarter. Principal Financial Group Inc. now owns 1,153,924 shares of the computer maker's stock valued at $41,391,000 after purchasing an additional 160,268 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of HP in the second quarter valued at $621,000. Cetera Investment Advisers raised its position in HP by 154.7% during the first quarter. Cetera Investment Advisers now owns 109,493 shares of the computer maker's stock valued at $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 worth $77,579,000 after buying an additional 419,774 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was 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 of the company's stock, valued at $99.48. The trade was a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup downgraded 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. JPMorgan Chase & Co. upped their price target on HP from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. Bank of America lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price target on the stock. in a research note on Friday, September 27th. Barclays decreased 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. Finally, UBS Group boosted their target price 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $35.55.

HP Trading Up 0.6 %

HPQ traded up $0.23 during trading on Friday, reaching $36.72. 7,227,218 shares of the company were exchanged, compared to its average volume of 7,753,265. HP Inc. has a 52 week low of $27.42 and a 52 week high of $39.52. The stock has a market cap of $35.39 billion, a P/E ratio of 12.92, a PEG ratio of 2.52 and a beta of 1.07. The firm has a 50 day moving average of $35.91 and a 200 day moving average of $34.92.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 EPS 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 analysts' expectations of $13.37 billion. During the same period in the prior year, the company posted $0.86 earnings per share. HP's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the computer maker to purchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.

About HP

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.