HP Inc. (NYSE:HPQ) Shares Sold by LMR Partners LLP

LMR Partners LLP lowered its position in shares of HP Inc. (NYSE:HPQ - Free Report) by 93.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,363 shares of the computer maker's stock after selling 1,232,614 shares during the period. LMR Partners LLP's holdings in HP were worth $3,313,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. LVW Advisors LLC lifted its stake in HP by 1.2% during the third quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker's stock worth $857,000 after purchasing an additional 278 shares during the last quarter. Castleview Partners LLC boosted its holdings in shares of HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker's stock valued at $138,000 after buying an additional 289 shares in the last quarter. Versant Capital Management Inc grew its position in shares of HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker's stock valued at $191,000 after buying an additional 297 shares during the last quarter. Arvest Investments Inc. raised its stake in HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker's stock worth $1,232,000 after acquiring an additional 310 shares in the last quarter. Finally, WMG Financial Advisors LLC lifted its position in HP by 4.2% in the second quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker's stock valued at $274,000 after acquiring an additional 315 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Trading Down 1.5 %

Shares of HP stock traded down $0.56 on Tuesday, reaching $36.87. 4,664,929 shares of the stock were exchanged, compared to its average volume of 7,738,904. The firm has a market capitalization of $35.53 billion, a PE ratio of 12.91, a PEG ratio of 2.51 and a beta of 1.07. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52. The business has a fifty day moving average price of $36.03 and a two-hundred day moving average price of $35.15.

HP (NYSE:HPQ - Get Free Report) last released its earnings results 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 business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same period last year, the business posted $0.86 EPS. HP's revenue was up 2.4% compared to the same quarter last year. Research analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has initiated a stock buyback program on Wednesday, August 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on HPQ shares. UBS Group lifted 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. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. Bank of America downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Friday, September 27th. Citigroup lowered shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 target price on the stock. in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their price target 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.55.

Insiders Place Their Bets

In other news, CEO Enrique Lores sold 211,501 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 3 shares in the company, valued at $99.48. This represents 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 available through the SEC website. 0.41% of the stock is currently owned by company insiders.

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.