HP Inc. (NYSE:HPQ) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its holdings in shares of HP Inc. (NYSE:HPQ - Free Report) by 85.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,298 shares of the computer maker's stock after selling 222,270 shares during the quarter. Los Angeles Capital Management LLC's holdings in HP were worth $1,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Triad Wealth Partners LLC purchased a new stake in HP during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of HP during the second quarter worth approximately $34,000. Wolff Wiese Magana LLC raised its stake in HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker's stock valued at $35,000 after purchasing an additional 518 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in HP in the 3rd quarter valued at $37,000. Finally, DecisionPoint Financial LLC acquired a new stake in HP during the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

Shares of NYSE:HPQ traded up $0.12 during midday trading on Friday, reaching $36.61. 4,019,767 shares of the company's stock were exchanged, compared to its average volume of 7,737,966. The firm's 50 day simple moving average is $35.91 and its two-hundred day simple moving average is $34.92. HP Inc. has a fifty-two week low of $27.42 and a fifty-two week high of $39.52. The stock has a market cap of $35.28 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 2.52 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 266.37% and a net margin of 5.33%. The company had revenue of $13.52 billion for the quarter, compared to analysts' expectations of $13.37 billion. During the same period in the previous year, the business posted $0.86 EPS. The business's revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts predict that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on HPQ. JPMorgan Chase & Co. increased their target price 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. Citigroup downgraded shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective for the company. in a report on Tuesday, October 1st. UBS Group boosted their target price on HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a "hold" rating for the company 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 price objective on the stock. in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $35.55.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 3 shares of the company's stock, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

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.