HP Inc. (NYSE:HPQ) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its holdings in HP Inc. (NYSE:HPQ - Free Report) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,340,440 shares of the computer maker's stock after selling 110,656 shares during the quarter. Primecap Management Co. CA owned 2.32% of HP worth $801,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of HPQ. Ashton Thomas Securities LLC purchased a new stake in HP during the third quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new stake in HP during the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in HP during the second quarter valued at about $34,000. Wolff Wiese Magana LLC lifted its stake in HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after buying an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in HP during the third quarter valued at about $37,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of analyst reports. UBS Group upped their price objective 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. Barclays dropped their target price on HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Morgan Stanley dropped their target price on HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Loop Capital dropped their target price on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. Finally, Bank of America downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, HP presently has an average rating of "Hold" and a consensus target price of $35.45.

HP Stock Down 0.5 %

Shares of HPQ stock opened at $36.70 on Thursday. HP Inc. has a 12 month low of $27.42 and a 12 month high of $39.52. The business's 50 day moving average is $36.17 and its two-hundred day moving average is $35.22. The company has a market cap of $35.36 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. During the same quarter last year, the business earned $0.86 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP announced that its Board of Directors has initiated a stock repurchase program on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm's 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 sale, the chief executive officer now owns 3 shares in the company, valued at approximately $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company's stock.

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.

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