MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Stock Position in HP Inc. (NYSE:HPQ)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in HP Inc. (NYSE:HPQ - Free Report) by 18.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,273 shares of the computer maker's stock after selling 57,042 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in HP were worth $9,121,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Johnson Bixby & Associates LLC raised its position in HP by 21.4% during the 3rd quarter. Johnson Bixby & Associates LLC now owns 8,543 shares of the computer maker's stock valued at $306,000 after purchasing an additional 1,508 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of HP by 952.2% during the third quarter. Exchange Traded Concepts LLC now owns 12,858 shares of the computer maker's stock valued at $461,000 after buying an additional 11,636 shares during the period. Annex Advisory Services LLC raised its holdings in shares of HP by 0.4% in the third quarter. Annex Advisory Services LLC now owns 77,829 shares of the computer maker's stock valued at $2,792,000 after acquiring an additional 347 shares in the last quarter. Ritholtz Wealth Management lifted its stake in HP by 8.0% in the third quarter. Ritholtz Wealth Management now owns 96,195 shares of the computer maker's stock worth $3,451,000 after acquiring an additional 7,108 shares during the period. Finally, First Affirmative Financial Network grew its holdings in HP by 43.9% during the 3rd quarter. First Affirmative Financial Network now owns 8,322 shares of the computer maker's stock worth $298,000 after acquiring an additional 2,538 shares in the last quarter. Hedge funds and other institutional investors own 77.53% of the company's stock.

HP Price Performance

NYSE:HPQ traded up $0.43 during midday trading on Monday, hitting $37.44. The company's stock had a trading volume of 5,059,731 shares, compared to its average volume of 7,947,160. HP Inc. has a fifty-two week low of $25.67 and a fifty-two week high of $39.52. The firm's 50 day moving average is $34.91 and its 200-day moving average is $33.66. The firm has a market cap of $36.64 billion, a P/E ratio of 12.65, a P/E/G ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last issued 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). The firm 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%. HP's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. As a group, analysts forecast that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has approved a share buyback plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. UBS Group upped their price target on shares of HP from $34.00 to $37.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Barclays cut 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. Loop Capital decreased their price objective on HP from $37.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. Citigroup downgraded shares of HP from a "buy" rating to a "neutral" rating and set a $37.00 price objective on the stock. in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of HP from $38.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $35.55.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3 shares of the company's stock, valued at approximately $99.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

HP Company 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.