HP Inc. (NYSE:HPQ) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC trimmed its holdings in shares of HP Inc. (NYSE:HPQ) by 17.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,849 shares of the computer maker’s stock after selling 1,221 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in HP were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in HPQ. Sawyer & Company Inc increased its holdings in shares of HP by 900.0% during the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock valued at $30,000 after acquiring an additional 900 shares in the last quarter. Rise Advisors LLC lifted its stake in shares of HP by 377.9% during the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after buying an additional 839 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of 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 second quarter valued at about $34,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of HP in the second quarter worth about $48,000. 77.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Alex Cho sold 173,137 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the sale, the insider now owns 64,676 shares of the company’s stock, valued at $2,335,450.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Enrique Lores sold 211,501 shares of the firm’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 sale, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alex Cho sold 173,137 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at approximately $2,335,450.36. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HPQ shares. Citigroup increased their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. 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 report on Thursday, September 5th. Bank of America increased their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. TD Cowen raised their target price on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, UBS Group lifted their price target on HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.55.

HP Price Performance

Shares of HP stock opened at $33.32 on Monday. The stock has a market capitalization of $32.61 billion, a P/E ratio of 11.26, a PEG ratio of 2.23 and a beta of 1.07. The business has a 50 day simple moving average of $35.29 and a two-hundred day simple moving average of $32.87. HP Inc. has a 12 month low of $25.22 and a 12 month high of $39.52.

HP (NYSE:HPQ) last announced its quarterly earnings data on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analysts’ expectations of $13.37 billion. HP had a net margin of 5.33% and a negative return on equity of 266.37%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. As a group, research analysts anticipate that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the computer maker to buy up to 28.9% of its stock through open market purchases. Stock repurchase plans are often a sign 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.