ING Groep NV Has $4.75 Million Position in HP Inc. (NYSE:HPQ)

ING Groep NV trimmed its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 71.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,537 shares of the computer maker's stock after selling 336,260 shares during the period. ING Groep NV's holdings in HP were worth $4,754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of HP by 2.6% during the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker's stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of HP in the 2nd quarter worth approximately $62,672,000. DME Capital Management LP boosted its holdings in shares of HP by 108.7% in the second quarter. DME Capital Management LP now owns 3,373,030 shares of the computer maker's stock valued at $118,124,000 after acquiring an additional 1,757,070 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of HP by 6.2% during the second 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 period. Finally, Legal & General Group Plc raised its holdings 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 purchasing an additional 1,089,848 shares in the last quarter. Institutional investors own 77.53% of the company's stock.

Insider Buying and Selling

In other news, CEO Enrique Lores sold 211,501 shares of the company'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 transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. The trade was a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup lowered HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted 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. Loop Capital reduced their target price 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. Barclays dropped their price target on HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Thursday, August 29th. Finally, UBS Group raised their price objective on HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.55.

HP Price Performance

NYSE:HPQ traded up $0.23 during mid-day trading on Friday, reaching $36.72. The stock had a trading volume of 7,278,754 shares, compared to its average volume of 7,753,265. The stock has a market cap of $35.39 billion, a P/E ratio of 12.88, a PEG ratio of 2.52 and a beta of 1.07. The business's 50 day moving average is $35.97 and its 200 day moving average is $34.98. 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 posted its 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). The business had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. Equities analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its Board of Directors has approved a share buyback program on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management 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.