Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stock Holdings in HP Inc. (NYSE:HPQ)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its stake in shares of HP Inc. (NYSE:HPQ) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,657 shares of the computer maker’s stock after selling 800 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in HP were worth $389,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in shares of HP in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of HP in the 2nd quarter valued at $34,000. Wolff Wiese Magana LLC raised its stake in shares of HP by 115.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock valued at $35,000 after acquiring an additional 518 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of HP in the 3rd quarter valued at $37,000. Finally, DecisionPoint Financial LLC purchased a new position in shares of HP in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Insider Activity

In other news, CEO Enrique Lores sold 211,501 shares of HP stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 3 shares of the company’s stock, valued at approximately $99.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

HP Price Performance

Shares of HPQ stock opened at $36.54 on Thursday. The firm has a market cap of $35.76 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.64 and a beta of 1.07. HP Inc. has a 1-year low of $25.95 and a 1-year high of $39.52. The firm has a fifty day moving average of $35.63 and a two-hundred day moving average of $34.29.

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 the consensus estimate of $0.86 by ($0.03). The company 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 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. On average, sell-side analysts expect that HP Inc. will post 3.39 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on HPQ. UBS Group raised their target price on shares of HP from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Loop Capital cut their target price on shares of HP from $37.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Citigroup lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Tuesday, October 1st. Bank of America lowered shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.55.

HP Company 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.