Oppenheimer & Co. Inc. Sells 16,732 Shares of HP Inc. (NYSE:HPQ)

Oppenheimer & Co. Inc. lowered its stake in shares of HP Inc. (NYSE:HPQ - Free Report) by 36.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,962 shares of the computer maker's stock after selling 16,732 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in HP were worth $1,039,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC acquired a new position in HP during the 3rd quarter valued at about $25,000. Triad Wealth Partners LLC acquired a new position in HP during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HP during the 2nd quarter valued at about $34,000. Wolff Wiese Magana LLC lifted its position in HP by 115.1% during 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 period. Finally, ORG Wealth Partners LLC acquired a new position in HP during the 3rd quarter valued at about $37,000. Institutional investors own 77.53% of the company's stock.

Insider Transactions at HP

In other 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 transaction of $7,013,373.16. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company's stock.

HP Stock Performance

HPQ stock traded down $0.56 during mid-day trading on Tuesday, hitting $36.87. 4,664,929 shares of the company were exchanged, compared to its average volume of 7,738,904. The firm has a market cap of $35.53 billion, a P/E ratio of 12.91, a P/E/G ratio of 2.51 and a beta of 1.07. The firm's 50 day simple moving average is $36.03 and its 200 day simple moving average is $35.15. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52.

HP (NYSE:HPQ - Get Free Report) last announced 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 company 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 business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. On average, equities research analysts predict that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has authorized a stock repurchase program on Wednesday, August 28th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows 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 leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on HPQ shares. Bank of America downgraded 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 Friday, September 27th. Loop Capital cut their price target on shares of HP from $37.00 to $35.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. UBS Group increased 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. Morgan Stanley cut their price target on shares of HP from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. Finally, Barclays cut their price target on shares of HP from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, HP has a consensus rating of "Hold" and an average target price of $35.55.

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.