HP Inc. (NYSE:HPQ) Shares Sold by Axa S.A.

Axa S.A. trimmed its stake in shares of HP Inc. (NYSE:HPQ) by 59.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,107,533 shares of the computer maker’s stock after selling 1,647,104 shares during the quarter. Axa S.A. owned about 0.11% of HP worth $38,786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in HPQ. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP in the 2nd quarter worth about $34,000. Sawyer & Company Inc lifted its position in HP by 900.0% in the 1st quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after purchasing an additional 900 shares during the last quarter. Rise Advisors LLC boosted its stake in HP by 377.9% during the 1st quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock valued at $32,000 after purchasing an additional 839 shares during the period. Finally, DecisionPoint Financial LLC bought a new position in HP in the 2nd quarter worth about $43,000. Institutional investors own 77.53% of the company’s stock.

Insider Buying and Selling at HP

In other news, CEO Enrique Lores sold 211,501 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HPQ has been the topic of a number of recent analyst reports. Loop Capital cut 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. UBS Group lifted their target price on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Barclays reduced their price target on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. 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. Finally, Wells Fargo & Company upped their price objective on shares of HP from $25.00 to $30.00 and gave the stock an “underweight” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $35.55.

HP Stock Up 0.6 %

NYSE:HPQ opened at $36.05 on Thursday. The business’s 50-day moving average price is $35.06 and its 200 day moving average price is $33.13. HP Inc. has a 52-week low of $25.22 and a 52-week high of $39.52. The firm has a market cap of $35.28 billion, a P/E ratio of 12.18, a PEG ratio of 2.35 and a beta of 1.07.

HP (NYSE:HPQ) last announced its quarterly earnings data 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 negative return on equity of 266.37% and a net margin of 5.33%. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts expect that HP Inc. will post 3.39 EPS for the current year.

HP announced that its board has approved a share repurchase plan on Wednesday, August 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the computer maker to purchase up to 28.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are 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.