Gulf International Bank UK Ltd Sells 3,333 Shares of HP Inc. (NYSE:HPQ)

Gulf International Bank UK Ltd cut its stake in shares of HP Inc. (NYSE:HPQ) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,434 shares of the computer maker’s stock after selling 3,333 shares during the quarter. Gulf International Bank UK Ltd’s holdings in HP were worth $3,172,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. LVW Advisors LLC lifted its holdings in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock worth $857,000 after purchasing an additional 278 shares in the last quarter. Castleview Partners LLC lifted its holdings in HP by 8.1% in the 3rd quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock worth $138,000 after purchasing an additional 289 shares in the last quarter. Versant Capital Management Inc lifted its holdings in HP by 5.9% in the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after purchasing an additional 297 shares in the last quarter. WMG Financial Advisors LLC lifted its holdings in HP by 4.2% in the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock worth $274,000 after purchasing an additional 315 shares in the last quarter. Finally, Old Port Advisors lifted its holdings in HP by 3.4% in the 3rd quarter. Old Port Advisors now owns 9,612 shares of the computer maker’s stock worth $345,000 after purchasing an additional 317 shares in the last quarter. 77.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HPQ shares. Morgan Stanley lowered 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. UBS Group upped their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on HP from $38.00 to $42.00 and gave the stock 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 objective on the stock. in a report on Tuesday, October 1st. Finally, Bank of America cut HP from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.55.

HP Stock Performance

NYSE HPQ opened at $36.91 on Thursday. The company has a market cap of $35.57 billion, a P/E ratio of 12.95, a P/E/G ratio of 2.46 and a beta of 1.07. The business’s 50 day moving average price is $35.72 and its 200-day moving average price is $34.59. HP Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $39.52.

HP (NYSE:HPQ) last released its 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). The company had revenue of $13.52 billion for the quarter, compared to the consensus estimate of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. As a group, equities analysts predict that HP Inc. will post 3.39 EPS for the current year.

HP declared that its Board of Directors has approved a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at HP

In other HP news, CEO Enrique Lores sold 211,501 shares of the company’s 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 transaction, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

HP 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.