Pathstone Holdings LLC Sells 6,891 Shares of HP Inc. (NYSE:HPQ)

Pathstone Holdings LLC cut its position in shares of HP Inc. (NYSE:HPQ) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,123 shares of the computer maker’s stock after selling 6,891 shares during the quarter. Pathstone Holdings LLC’s holdings in HP were worth $3,559,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HPQ. Ashton Thomas Securities LLC bought a new stake in shares of HP during the third quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new stake in HP in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of HP in the 2nd quarter valued at $34,000. Wolff Wiese Magana LLC lifted its holdings in shares of HP by 115.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after acquiring an additional 518 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of HP during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 77.53% of the company’s stock.

Analyst Upgrades and Downgrades

HPQ has been the subject of a number of analyst reports. Barclays cut 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 note on Thursday, August 29th. 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 research note on Thursday, August 29th. UBS Group increased their price objective on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Citigroup 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 note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, November 20th. One equities research 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, the company currently has a consensus rating of “Hold” and a consensus target price of $35.45.

Insider Activity

In related news, CEO Enrique Lores sold 211,501 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were 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 directly owns 3 shares in the company, valued at $99.48. This trade represents a 100.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is currently owned by company insiders.

HP Stock Up 0.6 %

Shares of HPQ opened at $38.13 on Monday. The stock’s fifty day simple moving average is $36.36 and its 200-day simple moving average is $35.40. The firm has a market capitalization of $36.75 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.61 and a beta of 1.07. HP Inc. has a 12-month low of $27.42 and a 12-month high of $39.52.

HP (NYSE:HPQ) last issued 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 during the quarter, compared to the consensus estimate of $13.37 billion. During the same period last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts anticipate that HP Inc. will post 3.39 EPS for the current year.

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

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.