One Wealth Advisors LLC Reduces Stake in HP Inc. (NYSE:HPQ)

One Wealth Advisors LLC reduced its position in HP Inc. (NYSE:HPQ) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,795 shares of the computer maker’s stock after selling 335 shares during the period. One Wealth Advisors LLC’s holdings in HP were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HPQ. Vanguard Group Inc. lifted its position in HP by 2.6% during the first quarter. Vanguard Group Inc. now owns 120,778,246 shares of the computer maker’s stock valued at $3,649,919,000 after purchasing an additional 3,062,441 shares in the last quarter. Primecap Management Co. CA lifted its position in HP by 6.2% during the second quarter. Primecap Management Co. CA now owns 22,451,096 shares of the computer maker’s stock valued at $786,237,000 after purchasing an additional 1,319,731 shares in the last quarter. LSV Asset Management lifted its position in HP by 3.3% during the first quarter. LSV Asset Management now owns 12,674,646 shares of the computer maker’s stock valued at $383,028,000 after purchasing an additional 403,355 shares in the last quarter. Legal & General Group Plc lifted its position in HP by 11.3% during the second quarter. Legal & General Group Plc now owns 10,710,450 shares of the computer maker’s stock valued at $375,079,000 after purchasing an additional 1,089,848 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in HP by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 8,402,432 shares of the computer maker’s stock valued at $294,253,000 after acquiring an additional 287,861 shares during the period. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

HP Stock Up 0.2 %

HPQ traded up $0.08 on Thursday, hitting $37.26. The company had a trading volume of 368,289 shares, compared to its average volume of 7,879,712. HP Inc. has a 12-month low of $25.67 and a 12-month high of $39.52. The business’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $33.78. The company has a market cap of $36.46 billion, a PE ratio of 12.56, a PEG ratio of 2.67 and a beta of 1.07.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) 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 business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.37 billion. During the same quarter last year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts anticipate that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its Board of Directors has initiated a share repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. Morgan Stanley decreased their price target on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Loop Capital decreased their price target on HP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, UBS Group lifted 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. One research 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’s stock. According to MarketBeat.com, HP currently has an average rating of “Hold” and a consensus target price of $35.55.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 owns 3 shares in the company, valued at $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company’s stock.

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.