HP Inc. (NYSE:HPQ) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in HP Inc. (NYSE:HPQ) by 23.5% during the 3rd quarter, Holdings Channel reports. The firm owned 1,909,221 shares of the computer maker’s stock after selling 585,216 shares during the quarter. Victory Capital Management Inc.’s holdings in HP were worth $68,484,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. LVW Advisors LLC grew its stake in HP by 1.2% in the 3rd quarter. LVW Advisors LLC now owns 23,884 shares of the computer maker’s stock valued at $857,000 after acquiring an additional 278 shares during the last quarter. Castleview Partners LLC grew its position in shares of HP by 8.1% in the third quarter. Castleview Partners LLC now owns 3,856 shares of the computer maker’s stock valued at $138,000 after purchasing an additional 289 shares during the last quarter. Versant Capital Management Inc increased 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 purchasing an additional 297 shares in the last quarter. Arvest Investments Inc. raised its position in shares of HP by 0.9% during the 3rd quarter. Arvest Investments Inc. now owns 34,355 shares of the computer maker’s stock worth $1,232,000 after purchasing an additional 310 shares during the last quarter. Finally, WMG Financial Advisors LLC lifted its stake in 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 in the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on HPQ shares. Loop Capital cut their price target on HP from $37.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. upped their target price on shares of HP from $38.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. UBS Group lifted their price target on shares of HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Barclays reduced their price objective on shares of HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. Finally, Bank of America cut shares of HP from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $35.55.

Insider Activity at HP

In other HP 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 completion of the sale, the chief executive officer now owns 3 shares of the company’s stock, valued at $99.48. This trade represents a 100.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.41% of the company’s stock.

HP Stock Down 0.9 %

Shares of NYSE HPQ opened at $36.50 on Friday. The stock has a market capitalization of $35.17 billion, a PE ratio of 12.81, a P/E/G ratio of 2.54 and a beta of 1.07. The firm has a fifty day moving average of $35.87 and a 200-day moving average of $34.91. HP Inc. has a 52-week low of $27.42 and a 52-week high of $39.52.

HP (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion for 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%. HP’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Equities research analysts expect that HP Inc. will post 3.39 EPS for the current fiscal year.

HP declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the computer maker to repurchase up to 28.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.