Capital Investment Advisors LLC Lowers Stake in HP Inc. (NYSE:HPQ)

Capital Investment Advisors LLC decreased its position in HP Inc. (NYSE:HPQ - Free Report) by 94.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,256 shares of the computer maker's stock after selling 304,386 shares during the period. Capital Investment Advisors LLC's holdings in HP were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Chris Bulman Inc purchased a new position in HP in the 2nd quarter worth about $88,000. Daiwa Securities Group Inc. raised its position in HP by 27.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 106,316 shares of the computer maker's stock worth $3,213,000 after buying an additional 22,909 shares during the last quarter. State of Alaska Department of Revenue raised its position in HP by 85.9% in the 1st quarter. State of Alaska Department of Revenue now owns 174,585 shares of the computer maker's stock worth $5,275,000 after buying an additional 80,670 shares during the last quarter. Swiss National Bank raised its position in HP by 1.4% in the 1st quarter. Swiss National Bank now owns 2,819,100 shares of the computer maker's stock worth $85,193,000 after buying an additional 37,800 shares during the last quarter. Finally, Frank Rimerman Advisors LLC purchased a new position in HP in the 2nd quarter worth about $621,000. Institutional investors own 77.53% of the company's stock.

Analysts Set New Price Targets

HPQ has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on HP from $38.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. Barclays reduced their price target on shares of HP from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Thursday, August 29th. UBS Group upped their price target on shares of HP from $34.00 to $37.00 and gave the company a "neutral" rating in a research report on Thursday, August 29th. 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 research note on Friday, September 27th. Finally, Citigroup downgraded HP from a "buy" rating to a "neutral" rating and set a $37.00 price target for the company. in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $35.55.

HP Trading Down 2.2 %

NYSE:HPQ traded down $0.82 during midday trading on Monday, hitting $36.46. 5,593,460 shares of the company traded hands, compared to its average volume of 7,886,076. The firm's fifty day moving average is $35.41 and its 200-day moving average is $33.96. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52. The firm has a market capitalization of $35.68 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share 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 analysts' expectations of $13.37 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

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

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the 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 owns 3 shares in the company, valued at $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.