Arjuna Capital Sells 31,801 Shares of HP Inc. (NYSE:HPQ)

Arjuna Capital trimmed its stake in HP Inc. (NYSE:HPQ) by 31.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,364 shares of the computer maker’s stock after selling 31,801 shares during the period. Arjuna Capital’s holdings in HP were worth $2,452,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in HP in the third quarter valued at $25,000. Triad Wealth Partners LLC acquired a new position in HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in HP in the second quarter worth $34,000. Wolff Wiese Magana LLC boosted its stake in HP by 115.1% in the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares in the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in HP in the third quarter worth $37,000. 77.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HP news, CEO Enrique Lores sold 211,501 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

HP Price Performance

HPQ stock traded down $0.20 during midday trading on Wednesday, reaching $36.91. The company had a trading volume of 1,070,835 shares, compared to its average volume of 7,739,096. The company has a market capitalization of $35.57 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 2.58 and a beta of 1.07. The stock has a 50 day moving average price of $35.84 and a 200-day moving average price of $34.90. HP Inc. has a 1-year low of $27.42 and a 1-year high of $39.52.

HP (NYSE:HPQ) last posted its quarterly earnings results 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 company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts anticipate that HP Inc. will post 3.39 earnings per share for the current year.

HP declared that its board has initiated a stock buyback 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on HPQ shares. Morgan Stanley reduced their price objective on HP from $37.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. UBS Group lifted their price objective on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Loop Capital decreased their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. 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. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.