HP Inc. (NYSE:HPQ) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its position in shares of HP Inc. (NYSE:HPQ) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,752 shares of the computer maker’s stock after selling 1,478 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in HP were worth $3,112,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. LVW Advisors LLC raised its holdings in HP by 1.2% during the third 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. Versant Capital Management Inc raised its stake in shares of HP by 5.9% during the 3rd quarter. Versant Capital Management Inc now owns 5,321 shares of the computer maker’s stock worth $191,000 after buying an additional 297 shares in the last quarter. WMG Financial Advisors LLC lifted its holdings in shares of HP by 4.2% in the 2nd quarter. WMG Financial Advisors LLC now owns 7,835 shares of the computer maker’s stock valued at $274,000 after buying an additional 315 shares during the period. J.W. Cole Advisors Inc. boosted its stake in shares of HP by 2.9% in the second quarter. J.W. Cole Advisors Inc. now owns 12,296 shares of the computer maker’s stock valued at $431,000 after buying an additional 345 shares in the last quarter. Finally, Annex Advisory Services LLC grew its holdings in HP by 0.4% during the third quarter. Annex Advisory Services LLC now owns 77,829 shares of the computer maker’s stock worth $2,792,000 after acquiring an additional 347 shares during the period. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Stock Down 0.8 %

HPQ opened at $37.28 on Friday. The firm has a market cap of $36.48 billion, a P/E ratio of 12.59, a PEG ratio of 2.67 and a beta of 1.07. The business’s fifty day simple moving average is $35.36 and its 200 day simple moving average is $33.88. HP Inc. has a 52 week low of $25.67 and a 52 week high of $39.52.

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

HP announced that its board has approved a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the computer maker to reacquire up to 28.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have commented on HPQ. UBS Group boosted their target price on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, September 27th. Morgan Stanley reduced their price target on shares of HP from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Barclays dropped their price objective on HP from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Thursday, August 29th. Finally, Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.55.

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 sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by 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.